The renowned China-based cryptocurrency exchange, Binance is the world’s largest trading platform by trading volume. Binance occasionally schedules system maintenances for ensuring security on their platform. Binance shut down its platform and trading systems. Furthermore, their backend systems remained under maintenance earlier this morning today on October 19, 2018.
About the System Maintenance at Maintenance on October 19, 2018
The cryptocurrency exchange shut down their system for maintenance from October 19, 2018, at 6 AM (UTC) and to end at October 19, 2018, at 7 AM (UTC). Furthermore, during this time, the trading platform functions such as deposits, withdrawals, trading, and accounts remained suspended.
Furthermore, the cryptocurrency trading platform stated on their website as an announcement. “Fellow Binancians, Binance will undergo system maintenance from 2018/10/19 06:00 AM (UTC) to 2018/10/19 07:00 AM (UTC). Trading, withdrawals, deposits and other account functions will be suspended during this period. We apologize for any inconvenience caused and thank you for your patience. Thanks for your support!”
During this system maintenance, some basics functions went astray. Then, the cryptocurrency exchange team announces that the maintenance extends by another 6 hours. The cause was slow data synchronization. The team spent time speeding up the process.
The exchange also provided some time to cease any orders that were existing on the platform, before any normal trading function starts. Furthermore, the team also promised another announcement once the maintenance gets over.
“Binance’s ongoing system maintenance will be extended by approximately an hour to 2018/10/19 08:00 AM (UTC). The data synchronization is taking longer than expected. Our team is working hard to complete the maintenance as quickly as possible.”
Due to some things going not as planned, the exchange had to postpone resuming the normal trading actions for another 6 hours. The team didn’t reveal the cause. The exchange team was taking swift actions.
Binance finally started their normal trading on October 19, 2018, at 9:30 AM (UTC) after the maintenance completed.