Binance temporarily stops withdrawing funds in bitcoins amid a sharp collapse of cryptocurrency

A significant drop in the value of major cryptocurrencies is accompanied by other shocks to the crypto market. For example, the Binance cryptocurrency exchange has announced a temporary suspension of Bitcoin withdrawal on the $BTC network. Although, users can output BTC to other networks.

According to the Binance administration, this decision is related to a transaction that hung in the network, and this caused a long queue. A team of experts is already working to address this issue and is expected to provide additional information soon.

In addition, it is noted that due to a batch of transactions that hung, only one network was affected – the Bitcoin network. Users can display $BTC on Ethereum or BNB Chain while the team works to resolve the failure.

Source itc
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