04-01-2021, 01:54 AM
Binance is blocking ADA withdrawals towards the end of each 5-day 'epoch' (staking r
<!-- SC_OFF --><div class="md"><p>I haven't experienced this myself, but people are talking about having ADA withdrawals blocked towards the end of the epoch. Binance is motivated to do this because a 'snapshot' of staking wallet balances is taken at the end of the epoch, and staking rewards are calculated based on that. This is highly unethical however , because it means Binance is staking other people's ADA, collecting those staking rewards, and making the ADA unavailable to the owners when it suits them. Supposedly the hold on withdrawals can be as long as a full day before the end of the epoch, but typically happens at least an hour before the end of the epoch. </p> <p>I think this shows a very blatant disrespect for their users' crypto which they're supposedly holding in custody (I know, NYK NYC), and the greater crypto community should be aware of this</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/AintNothinbutaGFring"> /u/AintNothinbutaGFring </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mhgiqf/binance_is_blocking_ada_withdrawals_towards_the/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mhgiqf/binance_is_blocking_ada_withdrawals_towards_the/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I haven't experienced this myself, but people are talking about having ADA withdrawals blocked towards the end of the epoch. Binance is motivated to do this because a 'snapshot' of staking wallet balances is taken at the end of the epoch, and staking rewards are calculated based on that. This is highly unethical however , because it means Binance is staking other people's ADA, collecting those staking rewards, and making the ADA unavailable to the owners when it suits them. Supposedly the hold on withdrawals can be as long as a full day before the end of the epoch, but typically happens at least an hour before the end of the epoch. </p> <p>I think this shows a very blatant disrespect for their users' crypto which they're supposedly holding in custody (I know, NYK NYC), and the greater crypto community should be aware of this</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/AintNothinbutaGFring"> /u/AintNothinbutaGFring </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mhgiqf/binance_is_blocking_ada_withdrawals_towards_the/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mhgiqf/binance_is_blocking_ada_withdrawals_towards_the/">[comments]</a></span>Kind Regards R