Binance Confirms Trading Relaunch Come May 15th
Binance, a Cryptocurrency exchange has confirmed that it has completed a major system upgrade and will relaunch its trading platform at 13:00 UTC on May 15th.
Binance, which lost over 7,000 BTC which was worth $41 million at the time in a hack earlier this month, froze deposits and withdrawals altogether before a limited return to operations this week.
A subsequent notice stated developers would shut down functionality in full for a period of up to eight hours on Wednesday, beginning at 03:00 UTC.
Binance is preparing to open up its previous suite of trading features, including deposits and withdrawals, for all users.
A new statement reads: “Binance has completed its system upgrade and we will resume all trading activity at 1:00 PM (UTC),”. It states:
“From now until the commencement of trading, users will be able to cancel open orders, process deposits and use other account related functions. Please note that the withdrawal function will be available shortly after trading resumes.”
Binance’s hack caught the cryptocurrency community by surprise when it emerged $41 million of funds had gone missing from some user accounts.
Binance admitted liability for the attack, on Tuesday urging users to read and comply with a list of 14 security precautions to protect funds on the exchange.