One of the world’s biggest crypto exchange is to go offline for eight hours starting this Tuesday at 2AM London time, making it late evening in America and morning in China.
“Binance will suspend deposits, withdrawals, and trading during this period. Deposits that are not completed before the start of the upgrade will be processed after the upgrade is complete. Please allow some time for deposits to be reflected in your account following the system upgrade,” Binance said.
Funds are safe according to Changpeng Zhao, Binance’s founder, with the exchange planning a “big upgrade.”
— CZ Binance (@cz_binance) March 11, 2019
They provide no detail on what exactly they’re upgrading or what changes they’re making, with the suggestion that this will take eight hours being only an estimate.
“The 8 hours is based on our best estimates and may vary. As usual, we will maintain regular communication on the progress of the upgrade on our various social media channels,” Binance said.
This is just a day before CBOE bitcoin futures are to expire this Wednesday, with its effects on price – if any – unclear.
Binance does not have margins or futures, so if there’s any price movements up or down, Binance users wouldn’t be called.
An eight hours downtime, however, is one of the longest for a crypto exchange with it to start now in a few hours.