Recently it was reported that there was a technical problem affecting withdrawals. But the Cryptocurrency Exchange Binance has confirmed user funds are not at risk. Changpeng Zhao, CEO of Binance exchange, claimed that the situation was being resolved on Aug. 23, while funds security was not compromised.
CZ explained that the issues was centered on centered on Amazon Web Services (AWS). Problems with caching were producing error messages for a portion of Binance traders, with withdrawals also impacted. Further he added : “It’s causing some 500 error messages on APIs and affecting some withdrawal processing.”