Binance CEO Changpeng Zhao explained that some transactions were delayed due to heavy traffic on the stock market.
A trade volume of 160 billion dollars was recorded in the crypto money market on the first day of February. Binance, which undertakes $ 21.6 billion of this alone, started to experience some technical problems.
‘There is a delay in transactions’
Binance CEO Changpeng Zhao posted an announcement and said that “the all-time record was broken” in some of the exchange’s statistics. Zhao did not reveal whether this is related to the number of users, the number of transactions, or any other indicator.
Zhao said after an hour, “Despite scaling efforts, there are some problems. There may be a synchronization problem in updating some transactions and account information. Our team is interested. ” made the explanation.
Maintenance done at the end of January
The crypto money giant had to suspend withdrawals due to the technical problem on January 29. Binance management was able to fix the problem after more than two hours of work and transactions were reopened.
By January 30, some problems were detected in the stock exchange’s peer-to-peer transactions (P2P). The problem was fixed in about 10 minutes.