By Bitcoinist - 1 year ago - Reading Time: 3 minutes
Crypto Reacts: Binance Pauses BTC Withdrawals, Is CZ Lying?
It has been a heated start of the week for the crypto community. Crypto exchange Binance temporarily suspended withdrawals on the Bitcoin network. This happened the same day as Celsius halted all withdrawals, raising liquidity concerns. Naturally, many users started to worry about Binance kòm byen.
Limit responsabilite nou: Opinyon sa a reprezante opinyon otè a, epi li pa nesesèman reflete opinyon otè a Bitcoinse. Bitcoinist se yon defansè libète kreyatif ak finansye menm jan.Yon tranzaksyon kole
In the middle of Bitcoin’s 13% drop, the crypto exchange Binance announced they would be temporarily pausing BTC transactions on the Bitcoin network “due to a stuck transaction causing a backlog.” Withdrawals through other networks like Ethereum or BNB Chain were still available.
Safu pic.twitter.com/9kywBEktLb
— dinshoo udit (@dinshoo12345) Jen 13, 2022
Malgre ke CEO Changpeng Zhao te espere sa a dire yon demi èdtan, li te pran echanj la 3 èdtan yo rezoud pwoblèm nan, ki te bay anpil tan pou teyori konplo soti.
Ki gen rapò ak Lekti | Binance Pou entèdi tranzaksyon Litecoin ak MimbleWimble Upgrade
Kominote Crypto a rele CZ
Tan yo tansyon. Se pa sèlman akòz pri yo jete pandan mache lous feròs sa a, men tou akòz fizyon terraUSD a ak nouvèl Celsius la. Kominote kriptografik la ap pran plis prekosyon ak nenpòt lòt fot posib.
Ki gen rapò ak Lekti | Platfòm prete Celsius jele retrè, ogmante enkyetid sou lajan likid sikile
Men kèk nan teyori konplo ki gaye:
UC-Berkeley’s Nicholas Weaver tweeted: “Binance halting withdraws (rather than trading) makes me wonder if they are either insolvent or just run out of liquidity and need to raid the cold storage. I wonder which case it could be?”
Kenbe nan tèt ou ke Weaver se trè kont crypto ak panse ke li ta dwe “mouri nan yon dife”. Sepandan, kèk itilizatè pro-crypto pataje yon enkyetid menm jan an.
Yon itilizatè psedonim ki ale pa Fatman sou Twitter jwenn CMo Z pa klè:
“Not sure why no one has mentioned this, but Bitcoin doesn’t work like that – it’s not like Ethereum where transactions require an iterative nonce – you can spend inputs even if a transaction from the same address is stuck in the mempool. Some additional clarity would be nice…
There are cases where this can happen if an exchange spends the entire hot wallet balance (one output to the user, the change amount back to themselves) – FTX does this sometimes – but I don’t think Binance does this, so it doesn’t make sense – unless they changed something. By the way, I’m just pointing out a detail in his wording that I found interesting. I do not think Binance is insolvent – nor do I think they will ever be insolvent…” And another user reponn that even if they were right about that last bit, “an exchange being open and functioning smoothly in a crashing market is a kind of a “you had one job” thing.” Although Binance managed to resume BTC withdrawals, the timing of the inconvenience came out as unprofessional.Repons CZ
Yo te mete dife nan konplo apre echanj la rekòmanse retrè ak pibliye yon pòs-otopsi. The exchange explained that were “repairing several minor hardware failures on wallet consolidation nodes earlier today, which caused the earlier transactions that were pending to be broadcast to the network after the nodes were repaired.” “These pending consolidation transactions had a low gas fee, which resulted in the later withdrawal transactions – which were pointing to the pending consolidation UTXO – getting stuck and not able to be processed successfully. To fix it we had to change the logic to only take successful UTXO from consolidation transactions or successful withdrawal transactions. This fix will also prevent the same issue from happening again.” CEO CZ said that the exchange’s devs “will engineer a way to avoid this in the future”, and added that he was in transit to France when the incident happened. “Were you able to tell it was our “intern” team handling it? No, right?” Last week CZ said during the Consensus 2022 conference that Binance has “a very healthy war chest” and they are, in fact, “expanding hiring right now”, hoping to leverage the winter. This contrasts with other crypto firms that are slashing their staff. Bitcoin trading at around $23k in the daily chart | BTCUSD sou TradingView.comSous orijinal: Bitcoinse