Binance confirms the resumption of trade on May 15 after the completion of the update

Binance cryptocurrency exchange confirmed that it has completed a major system update and will resume its trading platform at 13:00 UTC on May 15.

Binance, which lost more than 7,000 BTC ($ 41 million at the time) as a result of a hack earlier this month, completely froze deposits and withdrawals until a limited return to operations this week.

Subsequent notification indicated that developers will completely disable functionality for up to eight hours on Wednesday, starting at 03:00 UTC.

Little details were available about the work, which was completed on schedule. Now Binance is preparing to open all its previous trading functions, including deposits and withdrawals, for all users.

"Binance has completed the modernization of its system, and we will resume all trading activity at 13:00 (UTC)," the new statement says.

“From now until the start of trading, users will be able to cancel open orders, process deposits and use other functions associated with the account. Please note that the withdrawal function will be available soon after the resumption of trading. "

Hacking Binance took the cryptocurrency community by surprise when it turned out that some accounts had lost funds in the amount of $ 41 million.

On Tuesday, Binans admitted responsibility for the attack, urging users to read and follow a list of 14 security measures to protect funds on the exchange.

As a form of compensation for users who cannot use their accounts in the usual way, Binance also announced a free distribution using its own token, the Binance coin (BNB).

During the promotional period, which runs until May 18, users trading in funds worth more than 1 BTC will participate in a prize fund of 50,000 BNB ($ 1.26 million), which will be credited in two weeks.

As reported by the Cointelegraph exchange colleague Cryptopia, which lost about $ 17 million in January, stopped trading this week as the leaders called for liquidators.

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