Binance’s U.S.-based subsidiary has temporarily halted deposits and withdrawals via bank transfers.

Several users complained that they were unable to withdraw their funds to bank accounts on Binance.US’ Reddit forum over the last week. Some users reported multiple failed withdrawal attempts and wait times exceeding 10 days to process requests.

Users grew increasingly frustrated after their enquiries were met with responses from the customer support team stating that the exchange was aware of the issue and working with payment processors on a resolution. 

“Due to recent banking developments, including the structured sale of Signature Bank, ACH deposits and withdrawals for a small subset of our users were disrupted last week and, out of an abundance of caution, remain paused,” said an executive from Binance.US on the forum. 

“Our teams are working through this transition and expect to restore functionality within the next 24 hours,” he added. 

The crypto exchange’s status page points to a disruption of payment services through Signature, while stating that U.S. dollar withdrawals are still fully functional through wire transfers.

Binance.US’ parent company Binance has been hit with a lawsuit from the Commodity Futures Trading Commission (CFTC) alleging that the firm violated derivatives trading rules and deliberately hid its operations in the U.S.

In the hours leading up to the CFTC indictment, Binance saw $850 million worth of withdrawals, according to data from Thanefield Capital. The exchange saw an additional $240 million worth of user outflows within an hour of the announcement of the lawsuit.