The Binance crypto exchange has suspended the withdrawal of funds to Monero
The largest Binance exchange on Tuesday, February 20, completed the delisting of the anonymous Monero cryptocurrency. However, the day before this event, dissatisfied customers appeared, concerned about the premature, in their opinion, suspension of withdrawals to XMR.
One of Binance's clients posted a screenshot with a notification about the suspension of XMR withdrawal due to the low balance of the hot wallet. This happened at least 12 hours before the XMR delisting from the exchange. Although the Binance announcement stated that the withdrawal of funds in these altcoins will be discontinued on May 20, 2024.
"Why doesn't the exchange keep all its XMR in a hot wallet, knowing the schedule of exclusion from listing in order to avoid mass sales? For what reason does Binance store XMR in a cold wallet? Are there a few hours left before the exclusion from the listing? No. They just want you to have to sell XMR, not withdraw it. This is called last—minute manipulation," a disgruntled client of the largest crypto exchange was indignant.
On February 19th, there was indeed a sell-off of XMR, and the coin reached its historic low against bitcoin. On the centralized cryptocurrency exchange, Kraken XMR was trading for just 0.002100 BTC. At the same time, Monero is kept in the price range of $120. To prove its resilience, XMR must cope with the loss of the most liquid market. The situation is heating up that other cryptocurrency platforms may decide to follow Binance's example and delist Monero.
Source: https://bits.media/kriptobirzha-binance-priostanovila-vyvod-sredstv-v-monero/
