The world’s leading cryptocurrency exchange, Binance, announced that it has suspended withdrawals on its Solana (SOL) network several times since April 25, 2022.
Binance explained that this was due to the high withdrawal volume generated by empty transaction IDs. After the on-chain transactions were confirmed to be unsuccessful, the respective withdrawal requests began to be rejected. It was reported that the whole process took at least four hours.
Binance Wants to Reach a Final Solution
Binance made the following statements on the subject:
“A stable, long-term solution to reduce trading errors and improve user experience We are actively working with the project team to provide solutions. An announcement will be made if there are any updates on this matter.”
Binance started working with the Solana team to radically resolve these issues. It was stated that the aim of the study is to complete the process of suspending transactions for Solana, with the elimination of the problem.
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