Binance Users Get 70% Discount After Major Upgrade

Binance to compensate users for delays caused by upgrade

by Marina Ovcharova
09 February • 1 min
In News

China-based cryptocurrency exchange Binance said on Friday it will provide users with a 70% fee discount after completing a massive upgrade that caused serious system delays. With all functionality restored on Friday morning, the exchange offers a two-week price reduction as a “thank you” for its clients' patience.

Binance has already left its mark

One of the most popular cryptocurrency exchanges has been functioning for only six mounts. CEO Changpeng Zhao has made it on the brand new Forbes' list of cryptocurrency industry's successful people as one of the richest. This happens after Zhao publicly expressed his lack of approval of Warren Buffett.

Binance became the world's biggest online financial marketplace at the beginning of the year. The amount of new profiles, according to Cointelegraph, is as much as 240 000 per hour, causing the need of limitation on new registrations.

All problems solved, no risks exist for data

Users have been assured by the CEO on social media, that despite all technical difficulties that occurred, there has never been a treat on any data. Later, on Twitter, he admitted a DDoS attack on the cloud server provider, solved, in his words, mind some insignificant side effects.

The platform has denied all information for a possible hack attack connected to the technical problems suffered on Thursday.