Binance, the top crypto exchange in the world, halted Bitcoin transactions temporarily today due to a “congestion issue.”
In a Tweet, Binance announced the issue, which was resolved about two hours later. Binance has yet to reveal the issue that caused the interruption.
We've temporarily closed $BTC withdrawals as the #Bitcoin network is experiencing a congestion issue.
Our team is currently working on a fix until the network is stabilized and will reopen $BTC withdrawals as soon as possible.
Rest assured, funds are SAFU.
— Binance (@binance) May 7, 2023
Competing exchange OKX responded to the challenges at Binance, saying everything was A-OK for transactions on their platform, if a bit slow.
🚨 #BTC deposit and withdrawal services on #OKX are running fine. On chain transaction fee is currently high but our transactions are going through fine.
💡Protip: If you want to save a few bucks, please use the lightning ⚡network. pic.twitter.com/VR2SUB6xXg
— OKX (@okx) May 7, 2023