Binance Spot trading update [(Aug 13,2021) - (05:50 AM)

[Imran232]

Binance still under maintenance since morning

FAQ Binance:

1. When will be maintenance over ?

Ans.  Binance will announce after maintenance over.

2. Why I am able to trade in future ?

Ans. Only spot trade is under maintenance.

3. Why chart is not working ?

Ans. All trading freezed temporary.

4. Are my fuds safu ?

Ans. Yes, So don't panic.


UPDATED NEWS: BINANCE UPGRADING IS COMPLETE
https://www.binance.com/en/support/announcement/3ef1861772a44c67acc2c9f5ec9f87e4

Binance is doing this types of suspension regularly not Daily but time to time because of security issue. They are always aware about any type of glitch or malicious or suspicious activists. They are trying to keep it clean give a users smooth experience. And a dusting attack free experience with Binance. Which is good. So don't worry.

[tvplus006]

They always do a emergency maintenance I experienced it a lot of times and the bad thing about it is sometimes when the market do crash that's the time they will do their maintenance and many people didn't have stop loss on their positions and mostly they all lose, I remember there's a lot of complains on their telegram group because of this kind of thing.

Today I had a problem with the withdrawal of Ethereum from the exchange, which I planned to place on the Kucoin for Cirus staking on KuCoin BurningDrop, since the withdrawal of ETH is suspended. I tried to sell Ethereum on the Binance for USDT or BTC, but the withdrawal of these coins is also suspended. And as a result, I didn't have time to place my coins for the Cirus staking, since the entire pool is already full.

[hugeblack]

I hope that these measures will be temporary and successful in solving the problem of scalability and how the platform deals with cases of severe Bitcoin price increase or change.
I remember when the price rose for the first time above the 40 thousand barrier, the platform stopped for a few hours, as this happened when we broke the 63 thousand barrier, so I hope that this will not happen again in the future.

Generally, as long as the withdrawal is possible, all the resulting losses can be compensated.

[ryzaadit]

-snip-

Understand that and kinda pity.

However, accessing or open the website during "MT" can lead to some issues, attack or even find some exploited on the website because the "MT" happens. Is always on every service procedure during "MT" the website can be accessible to avoid this kind issue.

[Potato Chips]

4. Are my fuds safu ?

Ans. Yes, So don't panic.

I wouldn't trust their word that much 

1. If they get hacked and incurred a huge loss, there's no guarantee their safu funds would be able to cover for everyone's funds or if they're willing to do so.
2. Reimbursements could also take a long time before fully given out and could be converted to the USD equivalent at the time of hack just like what other CEXs did.

To sum it up, it's pretty much just a false sense of security.