In response to some FUD over recent BCH withdrawals, Binance.US tweeted clarification. Each BCH held by users on the site is fully backed by the reserve because Binance.US maintains a 1:1 reserve.
The earlier stoppage of BCH withdrawals was due to a problem with the deposit carryover system on Binance.US. When a predetermined threshold is reached, the system automatically moves money from the customer’s personal deposit pockets to the platform’s hot pockets, and then it moves the money back to the chilly pockets.
However, the customer’s BCH deposit address was not automatically carried over over the previous weekend, thus the team temporarily halted BCH withdrawals until the problem was fixed and deposits, hot wallets, and cold wallets resumed normal operation.
Since Sunday night, BCH withdrawals have been completely functional across all networks. Binance.US emphasised that it was created to cater to American customers and adhere to American laws. There is no amount of FUD that can make the property of shoppers any less secure.
