Binance Addresses ZEC Withdrawal Issues: Funds Safeguarded While Technical Fixes Are Underway

On April 13th, Binance’s Customer Support addressed a user’s question on social media regarding the ZEC withdrawals. The exchange acknowledged that a number of clients have faced difficulties when attempting to withdraw their ZEC assets due to a technical issue linked to Ledger’s ZEC application. Binance reassured users that their funds remain safely held in cold wallets, ensuring the security of assets, commonly referred to as SAFU. The exchange is currently collaborating closely with the Ledger team to expedite the resolution process. According to an official statement, Ledger has prioritized a forthcoming software update expected to be implemented by April 17th. Following this update, Binance plans to gradually restore the ZEC withdrawal functionality. In the interim, the exchange is actively investigating temporary solutions to alleviate the impact on affected users.