• Binance experienced issues impacting futures traders on April 10, 2021.
• CEO Changpeng ‚CZ‘ Zhao said that the issue was caused by server problems with the exchange’s futures UM Rest service/API.
• Binance resolved the issue shortly after and all services were back to normal.
Binance Experiences Issues Impacting Futures Traders
Binance experienced issues impacting its futures traders on April 10th, 2021. CEO Changpeng ‚CZ‘ Zhao said that the issue was caused by server problems with the exchange’s futures UM Rest service/API which affected both its user interface (UI) and API. The issue only impacted USD-Margined contracts, however it was quickly resolved shortly after and all services were back to normal.
CFTC Files Enforcement Action Against Binance
The Commodities Futures Trading Commission (CFTC) filed an enforcement action against Binance on March 27th, 2021 due to certain violations of US regulations. Binance responded saying that the charges were „unexpected“ and promised to cooperate with the regulator. On March 30th deposits and withdrawals from its Binance Smart Chain (BSC) network had to be temporarily suspended due to node issues as well .
Rumors of Interpol Issuing Red Alert for CZ
On April 3rd rumors emerged that Interpol issued a red alert notice for CZ but he denied them saying they were likely planted and sponsored by a rival exchange instead .
Binances Status Page Shows All Systems Operational
After resolving the issues, Binances status page showed that all systems operated optimally as of press time.
Conclusion
Overall, Binance was able to quickly resolve their technical difficulties impacting their futures traders in a timely manner while also being able to refute any malicious claims against them at the same time showing their commitment towards providing a secure trading experience for users.