Come to find out, Binance claims to have experienced a system Server malfunction. Changpeng Zhao- CEO of Binance, explained that the issue was due to a server malfunction on their replica database cluster. He further stated that they need to fully re-sync the system. He denied that any Hack took place on Binance. He went on to say, that no data was lost, but due to the size of the data, it would take approximately 10 hours to correct the issue.
Zhao was apologetic to Banance customers for the lengthy and unexpected shutdown. A Tweet from the official Binance Twitter account estimated that trading would be reinstated on February 9 at 4am (utc) (11Pm est) and that traders would be afforded 30 minutes prior to the start of trading, to withdraw or cancel any open orders.
I guess it was just bad timing on my part, as I haven’t made a trade on Binance for a couple of weeks. Doesn’t it just figure that the day I decide to Power Up on Steemit by buying Steem to send to my account, is the very day that Binance has its first real Glitch. I guess I’ll simply have to wait it out and be patient.
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Sources: Twitter, Cointelegraph.