Binance: Funds ‘SAFU’ After Amazon Web Services Error Stops Withdrawals
William Suberg's original article for cointelegraph.com reduced by 51%
Cryptocurrency exchange Binance has confirmed user funds are not at risk after a reported technical problem began affecting withdrawals. According to CEO Changpeng Zhao, also known as CZ, the situation was being resolved on Aug. 23, while funds security was not compromised.
"Funds are SAFU" after AWS error busts withdrawals. The issue, he explained, centered on Amazon Web Services. Problems with caching were producing error messages for a portion of Binance traders, with withdrawals also impacted.
"It's causing some 500 error messages on APIs and affecting some withdrawal processing." Prior to that, a hack saw funds worth $41 million leave the platform due to a security issue, something which sparked a week-long maintenance shutdown and payouts to affected users.
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