Binance fully reopens on Wednesday, 6-8 hours no trading

14 May, 2019
by Jelmer van der Dussen
Breaking News
Binance fully reopens on Wednesday, 6-8 hours no trading

Binance will be fully operational again on Wednesday, Binance CEO Changpeng Zhao has said on Twitter. Starting 3AM UTC, Binance will performing the system upgrade that will take 6 to 8 hours.

During the upgrade, trading will be halted. The exchange is expecting to open again around 11AM UTC. After that, deposits and withdrawals are possible again. These were disabled following the hack of last week, in which attackers took 7000 BTC from the exchange. 

Binance says the 6-8 hours is an estimation and that times may vary. Every 2 hours, an update on the progress will be given.

Binance further adds that once the update is completed, they will provide users with a 30 minute window to cancel orders and process depositos and withdrawals before trading resumes.

Deposits that are not completed before the start of the upgrade will be processed after the upgrade is complete. Deposits and withdrawals on Binance are disabled for about a week already, since the moment of the hack in which 7000 BTC was taken off the exchange. Trading resumed in the meantime.

Over the last week, Binance has performed a security check to make sure a hack like this won't happen again.

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