Cryptos were largely unfazed on Thursday by news that the Binance crypto exchange had suspended withdrawals and trading.
Crytpo traders appeared to accept the exchange´s denials that it had not been hacked and would be up and running again by about 1400 GMT.
Hong Kong-based Binance cited technical issues against a large increase in users and activity. While maintaining that no data had been lost, the firm said on Thursday that it had been forced to do a “system upgrade” and “fully resync from master.”
Crypto prices powered ahead on Thursday, continuing to recover from the big sell-off earlier this week.
Bitcoin was around 12% up as at 1120 GMT, trading at $8513.
Traders will be nevertheless watching the developments at Binance carefully. On Thursday, Japan´s financial regulator said it would be launching on-site checks of several crypto exchanges that could be vulnerable to hacking.
It comes in the wake of the major heist from Tokyo-based exchange CoinCheck less than a fortnight ago in which some $530m worth of the NEM digital currency was stolen.