|

Binance briefly pauses Ethereum withdrawals as network suffers 'minor hard-fork'

The Ethereum network has suffered what looks like a hard fork on Wednesday as reports emerged of outages and irregularities on infrastructure providers Infura and Blockchair.

While initially it was believed to be an internal issue in Infura, a hosting service used by some exchanges and service providers to interact with the Ethereum network, independent node operators reported issues as well.

During the incident, Binance has paused withdrawals and its CEO Chanpheng Zhao referred to a “possible chain split” as the culprit. The exchange has since resumed withdrawals at 10:20 UTC.

Blockchair, a popular block explorer, reported of a discrepancy between the blocks it saw and those published by Etherscan. After block 11234873 at 7:08 AM UTC, the two explorers began showing two different blockchains.

An image published by the team shows at least 14 blocks mined on a minority chain, which seems to indicate that some miners suffered from the issue as well.

As developers attempted to triage the issue, Peter Szilagyi, lead for major Ethereum node software Geth, hinted that the first action should be to upgrade to the newest release.

Shortly after, Blockchair reported that upgrading Geth fixed the issue, noting that there was likely an unplanned incompatibility introduced in new versions by Geth developers.

Szilagyi noted that Infura “is using an ancient version of Geth” and thus could have suffered from a similar synchronization problem.

In a conversation with Cointelegraph, Blockchair development lead Nikita Zhavoronkov said, “it seems that a minor hard fork occurred without anyone noticing it.”

According to him, developers “broke something in the latest releases,” which led to a consensus issue and an unplanned hard fork. Anyone who did not upgrade to the latest version was thrown off the rest of the network. Szilagyi put a different spin to the issue, saying that the new release “fixed a consensus bug.”

Either way, two parts of the network were unable to talk to each other, which caused significant — if temporary — issues. As of press time, Infura has yet to restore full functionality though.

Author

Cointelegraph Team

Cointelegraph Team

Cointelegraph

We are privileged enough to work with the best and brightest in Bitcoin.

More from Cointelegraph Team
Share:

Editor's Picks

Ripple and Stellar outlook: XRP defends key support, XLM awaits breakout as derivatives strengthen

Ripple and Stellar show divergent technical outlooks as traders assess whether the recent weakness could give way to a recovery. XRP is finding support and defining a key support zone, while XLM slips below a cluster of Exponential Moving Averages.

Crypto Overview: Bitcoin holds steady, resonates with Gold – ARB, PYTH extend gains

Bitcoin price hovers above $77,000 on Thursday, losing bullish momentum as its correlation with Gold has risen to nearly 50% over the last 90 days. Arbitrum and Pyth Network recorded double-digit gains over the last 24 hours, emerging as top performers.

Bitcoin holds $63K and $86K range as profit-taking risk builds

Bitcoin's recovery faces growing resistance as the market trades between a major accumulation zone below current prices and a dense concentration of potential supply overhead, according to a Glassnode report published Wednesday.

Robinhood Chain hits record daily fee revenue, boosts Arbitrum
Robinhood Chain generated a record $3.75 million in daily fees on Tuesday, making it the third-highest of the day behind Uniswap (UNI) and Pons, according to data from DeFiLlama. The figure marked the network's fourth consecutive day of record daily fee revenue and its highest single-day total since launching its mainnet on July 1.
Bitcoin: Billions in ETF inflows push BTC toward decisive breakout
Bitcoin (BTC) extends gains so far this week, trading near $80,000 after testing the 50-week Simple Moving Average (SMA) at $81,114 earlier. Strong institutional demand is supporting the rally, with spot BTC Exchange Traded Funds (ETFs) on track to record a second consecutive week of billion-dollar inflows.