LiteFinance and Binance Suspend Trading in 14 Crypto Pairs

LiteFinance, a company that deals with foreign exchange and contracts for difference, has stopped trading in 14 pairs of virtual currencies.

On Friday, the company posted (but later removed) a blog saying that their liquidity providers were not currently offering quotes for certain pairs.

The affected tokens, which are all paired with the US dollars, include:

• The Stellar (STR).
• Golem Network Token (GNT).
• DAT.
• SUN.
• Mask Token (MSK).
• Status Network Token (SNT).
• RefToken (REF) tokens.

The others are:

• The WAVES.
• DigiByte (DGB).
• AnonToken (ANT).
• NULS.
• CoinAlpha (ALP).
• Alien Worlds Price (TLM ).
• Chiliz (CHZ) tokens.

LiteFinance announced that it has temporarily stopped trading on certain crypto pairs, meaning that traders can only close their existing trades. The company is working to fix the problem that caused the suspension as soon as possible. LiteFinance made a statement a few hours after Binance stopped its spot trading feature.

We are aware of an issue impacting spot trading on Binance.

All spot trading is currently temporarily suspended as we work to resolve this as soon as possible.

New updates will be shared here.

— Binance (@binance) March 24, 2023

Binance’s CEO, Changpenz Zhao, tweeted:

Initial analysis indicates matching engine encountered a bug on a trailing stop order (a weird one). Recovering. Est 30-120 min ish. Waiting for more precise ETA.

Deposits & withdrawals are paused as a SOP (standard operating procedure). Funds are #SAFU. 🙏 https://t.co/mvtGQ3JlMA

— CZ 🔶 Binance (@cz_binance) March 24, 2023

He added:

Engine 1 is back online. Still need more time to do reconciliations, and for other engines to catch up.

We were a bit unlucky with this bug. Our engines take hourly snapshots. This bug happened 57 min in. So, replay/reconciliation takes a bit longer.

— CZ 🔶 Binance (@cz_binance) March 24, 2023

Read more: CySEC Removes Three Companies from Investor Protection Fund (brokerstimes.com)