The crypto community faced a difficult time hours ago due to the decline in the price of Bitcoin and most of the altcoins, and to make matters worse for Binance users, the platform stopped and went into maintenance mode.

CZ, founder and CEO of Binance, wrote on Twitter that nearly all trading features have been suspended due to a problem with the matching engine.

While the nature of the problem is still unknown.

The Binance founder told that margin and spot trading, OTC, P2P, Earn, Liquidity Swap and Launchpool are temporarily suspended.

“CZ” added, stating that all deposit, withdrawal and transfer features are temporarily suspended, as stated Meaning:

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Futures trading is still running.

Everything else is in maintenance mode now.

We are working to get the system back online as soon as possible.

Even while the futures matching and trading engine is working, the platform does not support transfers and remittances.

Later, CZ wrote that the platform team successfully restarted the matching engine and hoped to get Binance back online within an hour.

In November 2020, CZ told Bloomberg that Binance is seeing real crypto adoption with more users coming in.

Despite the regulatory tightening, CZ said things are going well.

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