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Futures contracts on the Binance exchange encountered issues.
Binance, the largest cryptocurrency exchange in the world, recently experienced a sudden interruption on the Futures platform, preventing global users from placing orders from 13:18 to 13:36 ( Vietnam time ). Many traders reported the error "Service load is too heavy," while on social media, speculation circulated that the issue was not only due to technical reasons but also related to market volatility.
Binance quickly confirmed and temporarily suspended all Futures UM trading, committing to urgent handling. After that, the exchange announced that activities had been restored, but the incident still disappointed many traders who rely on speed and stability in the derivatives market.
This is not the first time Binance Futures has encountered issues, as there was a bug in updating the order book and chart in October 2024. This incident comes amid Binance facing strict scrutiny, raising concerns about user trust in the competition with Bybit, OKX, and Deribit.