Binance Engines Await Reconciliation After Recovering from Bug

• Binance encountered a bug, leading to the suspension of spot trading.
• The attack bordered on the trailing stop order protocol on the Binance exchange.
• The issue was quickly resolved, but reconciliation is still ongoing.

Binance exchange announced its platform encountered a bug earlier today, temporarily suspending spot trading. In a tweet, the exchange acknowledged awareness of the issues faced by traders while assuring them of efforts to resolve it as soon as possible.

We are aware of an issue impacting spot trading on Binance.

All spot trading is currently temporarily suspended as we work to resolve this as soon as possible.

New updates will be shared here.

— Binance (@binance) March 24, 2023

In a follow-up tweet, the CEO of Binance, Changpeng Zhao, popularly known as CZ, explained that the issue bordered on the trailing stop order protocol on the platform. According to him, an initial analysis of the problem indicated the matching engine encountered a bug on a trailing stop order in a scenario that he considers to be “weird”.

CZ also informed the public that the exchange suspended deposits and withdrawals, following the standard operating pr…

The post Binance Engines Await Reconciliation After Recovering from Bug appeared first on Coin Edition.