On Thursday, Binance Australia, the world’s largest cryptocurrency exchange, announced that certain clients may be unable to deposit or withdraw money due to a third-party service provider’s outage.
After Cuscal cut access, Binance announced on social media that bank transfers for Australian dollar deposits would be unavailable immediately. It also stopped withdrawals without specifying when.
“We are working hard to find an alternative provider to continue offering AUD deposits and withdrawals to our users,” Binance added. Cuscal did not immediately comment.
According to the Australian Financial Review, Westpac Banking Corp (WBC.AX), Australia’s second-largest retail bank, barred customers from trading with Binance. Reuters could not immediately reach Westpac.
It previously restricted crypto-currency payments to reduce scam losses. No exchanges or details were identified. After losing a financial services license in April due to a regulatory inquiry, Binance’s Australian branch suffered another setback.
Binance faces global regulatory suits and investigations. IN MARCH, the CFTC sued Binance and its founder, Changpeng Zhao, for running an “illegal” exchange. However, Binance stated credit and debit cards are still accepted.