LBank and Gate.io are the two leading crypto exchanges that have recently reported that they are halting their withdrawals
Hours later, both exchanges have recovered their trading back to normal
io have halted user withdrawals for hours, citing the technical problems in their third-party cloud service providers.
The foundation of cryptocurrency markets lies in user trust, especially in times when crypto prices are leveling the ground due to extreme FUD. Amidst, the utter chaos in the crypto markets, another update is coming from the leading centralized exchanges that can potentially go against the attempts for stability in the ecosystem.
LBank and Gate.io are the two leading crypto exchanges that have recently reported that they are halting their withdrawals due to technical complications from the end of their cloud service provider. This has caused some problems for their users, however, the exchanges ensured their customers that all trading operations will be back to normal very soon.
While sharing the update with their customers on Twitter, LBank said that their trading services would be slightly impacted due to an outgoing connection with their cloud servers.
However, LBank assured their users that all of the user funds are safe and this is only a temporary downtime for which the team is working hard.
On the other hand, Gate.io shared a single tweet citing the fact that deposits and withdrawals will be halted for some time due to network issues in their data centers. Gate.io also assures its users that all of their funds are completely secure and the network delays would be recovered as soon as possible.
As per their announcements, both exchanges have recovered their trading back to normal, however, LBank is still facing some issues with the other parts of its website that are expected to get better soon.
If you are someone who would love to be updated about the latest market trends, keep following CoinGabbar.
Also, Read - CoinDCX Proof-of-Reserves Live Only On CoinGabbar: Building Trust Together