A suspension of deposits and withdrawals from the Binance Smart Chain (BSC) network was announced by Binance.

The problem was thought to be a problem with a node; the team has said that it will be fixed in an hour.

The exchange announced that scheduled wallet maintenance would take place on March 30 at 07:00 UTC. It was estimated to take two hours, during which time deposits and withdrawals were suspended.

A further declaration was delivered at roughly 09:52 UTC, enumerating “a hub issue,” broadening the free time. Deposits and withdrawals would reopen once maintenance was finished, the company added.

“The ongoing wallet maintenance for BNB Smart Chain (BEP20) will be extended by approximately 1.5 hours to 2023-03-30 11:00 (UTC). Binance is working actively to complete the maintenance as quickly as possible.”

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Binance under fire

On March 27, the Commodities Futures Trading Commission (CFTC) filed an enforcement action against Binance over charges of operating an illegal exchange.

CEO Changpeng Zhao (CZ) said he was surprised by the move as the company had been working with the regulator over the last two years. He disagreed with the lawsuit, citing “an incomplete recitation of facts.”