Changpeng Zhao announced on his Twitter account that Binance is experiencing something that he calls a standard tech issue.
On October 18th at 10:32 pm, Zhao tweeted that the exchange experienced a problem after a DB failover, reports Oracle Times.
Zhao explained that some API users would not be able to see their orders correctly.
He continued and said that an engine restart was required in order to fix this tech issue and as a result, the trading would be halt for about an hour.
We are experiencing an issue after a DB fail over. A small number of API users won't see their orders correctly. UI (Web, APP) users are fine. An engine restart is required to fix the issue. We will halt trading for a engine restart in about 30 minutes, lasting about 60 min.
— CZ Binance (@cz_binance) October 19, 2018
Binance users accuse the exchange and Customer Support responds
The user also said that they liquidated some positions. Oracle Times reported that another person said that
“This is fintech and absolutely should never ever be out of service. You charge clients and don’t deliver. What does #binance not understand about 100% reliability? 97% is not good enough, no excuses with the amount of profit you are scooping up every day.”
When a user blasted Binance about this unplanned tech work, Binance Customer Support responded:
Hi, yes we are aware of the issue and will allow some time for users to cancel orders after the system returns back to normal before we re-open the trades.
— Binance Customer Support (@BinanceHelpdesk) October 19, 2018
Binance changed its listing policy
In other news, Binance was in the spotlight just recently again after announcing that all listing fees become transparent and they would be donated to charity.
“Starting immediately, and going forward, we will make all listing fees transparent and donate 100% of them to charity.”
It seems that “Binance will continue to use the same high standard for the listing review process. A large donation does not guarantee or in any way influence the outcome of our listing review process,” Binance notes.
This change will support even more Binance’s charity initiatives and increase the use of blockchain for the “greater good,” the blog post reveals.