Binance Futures faced a temporary issue that impacted its USD-Margined contracts, causing concern among users of the largest cryptocurrency exchange.
However, Binance quickly reassured its customers that the issue had been resolved, and trading activity had resumed as usual.
The Futures UM Rest service/API, responsible for the user interface and API, was identified as the source of the problem, while Futures CM (COIN-Margined) contracts remained unaffected.
CZ, Binance CEO, tweeted that the team had resolved the server issues and migrated to new servers, with everything back to normal.
This is not the first time that Binance has faced disruptions, with spot trading temporarily suspended in March due to a bug in the matching engine.
Additionally, Binance’s Australian derivatives division closed following license cancelation by the ASIC. Amid the CFTC’s market manipulation allegations, Binance experienced intense Bitcoin outflows, leading to concerns over the CZ-led company.
