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3 years ago

Ethereum Infrastructure Provider Down: Exchanges Halt ETH Withdrawals

George Georgiev Nov 11, 2020 09:59
Major cryptocurrency exchanges are halting ETH withdrawals as an Ethereum Infrastructure provider Infura experiences issues.
  • The world’s leading cryptocurrency exchange, Binance, has temporarily suspended withdrawals for ERC20 tokens. Upbit and Huobi follow suit.
  • The issue comes after Infura – an Ethereum infrastructure provider is also experiencing problems. The team announced earlier today that they are experiencing a service outage for their Ethereum Mainnet API.
  • In a later update, they’ve revealed that they brought additional capacity online for the affected components and are “continuing to triage the root cause of the outage.”
  • In the latest announcement, Infura revealed that they have managed to identify the root cause and are preparing a fix for the issue.

  • Binance’s CEO revealed that there was an attempt at chain split on Ethereum at block 11234873.
  • He said that “Etherscan and Blockchair are showing two different chains and data after this block. We’re resolving now but have temporarily closed withdrawals. Funds are SAFU.”
  • In any case, all of this happens as Ethereum 2.0 is getting ready for its genesis. There are currently over $23.8 million in ETH locked in the depositor contract, as Vitalik Buterin staked 3,200 ETH himself.
  • Since the publication of the article, Etherscan has responded to CZ’s tweet, outlining that this particular issue seems to have been resolved.

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George Georgiev

Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

Tags: Ethereum

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