Binance to Halt Trading After Syscoin Issue

Crypto exchange began unscheduled maintenance soon after one of the users paid 96 BTC for one Syscoin token
04 July 2018   282

On 4th of July, the largest crypto exchange Binance suddenly suspended trading, withdrawal and other functions.

Representatives of Binance said that the trading platform is forced to conduct maintenance. They also apologized for the inconvenience, promising to provide details soon.

A few hours later, the blog of the site reported that due to "suspicious trading activity" Binance will remove all existing API keys and will prompt users to create new ones.

After another hour, API keys were removed, users were able to create new ones. The administration of Binance promised to announce the resumption of the remaining operations later.

CEO of the Binance Exchange Changpeng Zhao said that all funds are safe.

At the moment, Binance is still unavailable for trading.

Binance
Binance

Crypto exchange began unscheduled maintenance soon after one of the users paid 96 BTC for one Syscoin token.

Binance team just reported to resume trading on 08:00 AM (UTC).

BitForex to Become Trading Volume Leader

For a while, the indicator of the daily trading volume of the BitForex exchange was held at around $ 14 billion
02 August 2018   321

Due to the use of the so-called trans-fee mining model, little known crypto-exchange BitForex became the leader in terms of trading volume. This is reported by CryptoGlobe.

Coinmarketcap Trading Volume
Coinmarketcap Trading Volume

For a while, the indicator of the daily trading volume of the BitForex exchange was held at around $ 14 billion. To date, the value of this indicator has dropped to $ 5.3 billion. Nevertheless, it is more than five times higher than that of the popular Binance exchange.

Just yesterday, BitForex launched its BF token, which users of the trading platform can extract using the trans-fee model previously used on the CoinEx and FCoin exchanges.

The most popular trading pair on the BitForex exchange was BTC / USDT.

BitForex was launched in June this year. The site is based in Singapore, but Seychelles was chosen as the place of registration by the owners.

The company's website says that 80% of trade commissions are returned to holders of BF tokens. The latter will have the opportunity in the future to participate in solving key issues of the platform and its community. It is also indicated that the BF offer is limited to ten billion coins.