Binance halts deposits, withdrawals on glitches in spot trading

CRYPTOCURRENCY exchange Binance has paused deposits and withdrawals on its platform due to issues affecting its spot trading, its chief executive Changpeng Zhao said in a tweet on Friday (Mar 24).

“Initial analysis indicates matching engine encountered a bug on a trailing stop order,” he said in a tweet, adding that the pause was a standard operating procedure.

Last week, Binance said it will be halting its sterling deposits and withdrawals, a month after the world’s largest crypto exchange ceased US dollar transfers.

Reuters has previously reported that the Justice Department is investigating the crypto exchange for suspected money laundering and sanctions violations. REUTERS