Binance crypto exchange outage sparks outrage as traders lose millions

Outages in crypto exchanges have resulted in losses for investors trying to get out in time. While Binance has been proactive in neutralizing such situations, numerous investors are reportedly seeking damages due to the exchange’s inoperability.  Speaking to CNBC, a Binance spokesperson highlighted the company’s policy that promises to compensate actual trading losses due to system or internal issues, but noted: In some cases, when investors reached out for compensation in relation to the said outage, Binance’s customer service team reportedly offered a low rebate while refusing to comment on “pending legal matters.”