Binance Suffers Crippling Lag, Angry Crypto Traders Lose Thousands

P. H. Madore
Heavy crypto trading volume caused Binance to suffer crippling lag, and angry Bitcoin traders losts thousands amid the outage. | Source: Shutterstock

By CCN: Binance users experienced extreme lag this morning, specifically with trade settlement and balance syncing. CEO Changpeng Zhao confirmed the issue on Twitter and promised the crypto exchange was working on it.

Bitcoin Traders Scream Bloody Murder as Binance Succumbs to Lag

Consequently, several crypto traders got stuck in trades they would otherwise have canceled, which meant unintended losses.


At least five users reported losses in the thousands of dollars. One person said they lost around 3 BTC.


Chanpgeng Zhao, often referred to as “CZ,” is an unstoppable Twitter user, but he did not immediately respond directly to any of these public complaints. He blamed the lag on heavy order volumes.


Read the full story on CCN.com.