Binance Temporarily Disables All Crypto Withdrawals, Cites Backlog

Binance, the world’s largest crypto exchange, temporarily disabled all crypto withdrawals for a time on Monday due to a large backlog.

• Withdrawals were resumed about 25 minutes after the stoppage was announced to customers on its Twitter account Monday. But then 20 minutes after that announcement, the company tweeted an update that withdrawals had been closed again.

• “There will be a temporary delay in withdrawal processing as the backlog is cleared. We expect this to last about 30 minutes,” Binance said in a tweet following the initial resumption.

UPDATE (Nov. 1, 12:35 UTC): Added Binance’s latest update.