On the night of 7th to 8th of February , users of Binance exchange were not able to perform any operations. At the time of writing the report, Binance was still unavailable due to technical work being carried out on the site.
A system maintenance is in progress, some users may experience a temporary decrease in exchange performance while this in underway.Thank you for your understanding.
— Binance (@binance) February 8, 2018
At the first failures of the system happened, the developers of the exchange published on their Twitter message that they are processing on the platform and some users can observe failures in transactions with cryptocurrency.
A few hours later on the official website of the exchange they informed that the work on updating the system is continuing and until they are completed trading and withdrawal of funds will be suspended.
According to the representatives of the exchange, the reason for the fault is a significant increase in users and trading activity of Binance. Yesterday’s increase in rates of all tokens was followed by increase in demand for the purchase of cryptocurrency.