IOTA withdrawals from Binance suspended

The users are complaining about not being able to withdraw IOTA from Binance exchange for a long time and the IOTA cryptocurrency is falling down in price
15 December 2017   9001

Binance cryptocurrency exchange has announced launching IOTA coin on the platform 3 months ago having listed IOTA/BTC and IOTA/ETH trading pairs. Currently the users of Binance are facing issues with withdrawals of IOTA, and most of them have not been able to withdraw the money for several weeks after sending the request.

Binance support users comments towards IOTA withdrawalsUsers' comments towards the problem with IOTA withdrawals on Binance Support

The users who wrote to Binance Support, received the following reply:

IOTA has currently suspended transactions due to a bug in their system.
We have received word from them that they are working on it to fix the issue, but we are still waiting for confirmation from them with regards to when they will resume transaction operations. We appreciate your patience and understanding, and as always, thank you for your continued patronage.

The Binance Support Team 
Support 1023

Meanwhile, the price of IOTA has started to fall down, presumably due to the problems with money withdrawals. The coin decreased 0,46% within past hour, 1,03% within past 24 hours and eventually 7,95% within past 7 days.

IOTA ChartsIOTA Charts

At the moment of press, these are main market parameters of IOTA:

  • Average price: $3,88
  • Marketcap: $10 772 569 927
  • 24h volume: $694 015 000

IOTA Team to Fix Serious Mainnet Bug

At a certain point, the bug in IRI caused an actual shutdown of the main IOTA network, it was unavailable for more than 15 hours
30 December 2019   261

The developers of the IOTA crypto project this Monday announced the release of an updated version of the software for the basic implementation of the IRI v1.8.3 node, after a failure in their main network.

At a certain point, the bug caused an actual shutdown of the main IOTA network, while the rate of processed transactions dropped to zero. According to user observations, the network was unavailable for more than 15 hours.

There is an edge case where IRI didn't account for a transaction that was shared between two distinct bundles. Once it marked it as "counted" in one bundle, it was ignored for the next bundle. This lead to a corrupt ledger state.

GalRogozinski @ GitHub

Developer, IOTA

By the time of publication, the problem was resolved. Note owners need to restart their clients using the latest software version.