Investing.com - Financial Markets Worldwide

Ethereum Service Infura Suffers Outage, Binance Halts Withdrawals

ByCrypto Briefing
AuthorCrypto Briefing
Published 11/11/2020, 05:43 AM
ETH/USD
-

Ethereum’s infrastructure provider Infura crashed this morning, leading to a delay in delivering price feeds for ETH and ERC-20 tokens. Binance and other exchanges have since halted withdrawals.

Key Takeaways

  • Infura suffered a major outage on its Ethereum Mainnet API this morning, the issue is ongoing.
  • The Infura team confirms capacity for affected components has been added, root cause has also been identified.
  • Binance and other crypto exchanges have halted withdrawals in response to the incident.

Infura, one of the key service providers for the Ethereum network, is down. The problem was first reported via Infura’s website, where it was confirmed that the service was “experiencing a service outage” at around 08:12 UTC this morning.

The team has since confirmed that the problem’s root cause has been identified, with additional capacity added and system recovery operations in process.

In response to the failure, Binance and other crypto exchanges have caused withdrawals on ETH and ERC-20 tokens. Metamask, which uses Infura as its service provider, is also facing problems.

Infura is one of the principal service providers powering Ethereum’s mainnet. Some Ethereum skeptics point to incidents such as this to criticize the blockchain, claiming that dependence on a service provider to run nodes highlights a lack of true decentralization.

Editor’s note: Changpeng Zhao, the CEO of Binance, announced at 10:26 UTC that withdrawals have resumed.

Original Post

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.