Due to a 'Stuck On-Chain Transaction,' Binance has put a halt to BTC withdrawals.

Due to a 'Stuck On-Chain Transaction,' Binance has put a halt to BTC withdrawals.

Binance, the world's largest cryptocurrency exchange, blocked withdrawals of BTC, on Monday.

Because of a "blocked on-chain transaction," Binance, the world's largest cryptocurrency exchange by volume, has placed Bitcoin withdrawals on hold for its users.

Although Binance CEO Changpeng "CZ" Zhao initially stated that the issue will be resolved in 30 minutes or less, he later stated that the exchange's remedy would take "a little longer" than the initial estimations. He emphasised that users' monies are "SAFE."

Users can still withdraw their Bitcoin via other networks, such as Ethereum or Binance's own BNB network, according to Binance's Twitter account, which stated that those blockchains were operational at the time of the message.

Following Zhao's first tweet, Binance issued a statement referring to a "batch of transactions" that couldn't be executed using Bitcoin, while Zhao singled out a single tran...