A raft of crypto exchanges have suspended accepting new clients due to increasing, overwhelming demand.
Binance, one of the fastest growing cryptocurrency exchanges, temporarily disabled new user registrations this week and has noticed backlash, in the form of an increasing number of users attempting to sell their accounts.
On Wednesday, the Binance Team issued a statement on the company’s website declaring a provisional suspension of the creation of any new accounts, which it attributed to an “overwhelming surge in popularity”.
The statement also reveals that the postponement will allow for necessary infrastructure support upgrades.
In a separate statement, the Binance Team said it had noticed an “increase in the number of users attempting to resell their accounts”. The company warned users that the selling of accounts posed serious security risks.
“Binance will not be responsible for any losses related to such activities,” the most recent statement said.