Binance Faces Ledger Hurdles | Major Delays for ZEC Withdrawals
Edited By
Liam O’Reilly
As the largest cryptocurrency exchange in the world, Binance is grappling with ongoing issues related to its hot wallet transfers for Zcash (ZEC), a problem that has persisted since February 2025. Users are growing increasingly frustrated as withdrawals have come to a standstill, largely due to the malfunctions in the Ledger support for ZEC, sparking a series of complaints from the community.
The complication stems from the ZEC ledger app, which is primarily developed by the Zcash community rather than Ledger itself. Sources confirm that Binance's cold wallet holds over a million ZEC, making the current inability to transfer to hot wallets a hot-button issue among users. “This now explains why ZEC withdrawals are paused!” one user expressed, highlighting the community’s concern over the halt of their funds.
Interestingly, a moderator noted, "We’re aware of an issue affecting Ledger support for Zcash that’s currently preventing some users from transacting." This acknowledgment from Binance indicates their commitment to addressing the situation, yet many users remain uncertain and anxious about the roadmap to resolution.
The Community's Frustration
A mixture of emotions circulates within the community, with many expressing discontent over the state of affairs. The sentiment toward the delays is overwhelmingly negative, and key themes have emerged:
Responsibility for Delays: Users are frustrated at the delay of ZEC withdrawals, pointing fingers at both Binance and Ledger.
Transparency Issues: Many feel left in the dark, wanting clearer communication from Binance concerning the ongoing problem.
Development of ZEC App: There’s a clear distinction between user expectations and what they see as the community's shortcomings in supporting the ZEC ledger app.
“It’s tough to see our funds held up because of development issues,” remarked one user, encapsulating the essence of the frustration felt across social media platforms. Another added, “We need updates, not silence.” This plea for timely communication underscores the community’s yearning for transparency, especially regarding funds that many users rely upon.
Current Status and Impact
While the situation remains unresolved, the impact on Binance's reputation as a reliable platform is becoming evident. Users are questioning their loyalty to the exchange as alternatives become increasingly attractive. Analysts posit that this kind of issue could discourage future investments and erode trust.
The situation remains fluid, with no definitive timeline for the resumption of ZEC withdrawals at this moment.
Highlights of the Situation
🌟 User trust in Binance is wavering as delayed withdrawals continue.
🔍 Moderators confirm both parties are working on a solution but clarity is lacking.
⚠️ Community concern centers around the management of Ledger’s ZEC support.
🤔 What’s next for ZEC holders? Answers remain uncertain as the wait continues.
In the fast-paced world of cryptocurrency, trust and timely access to funds are paramount. As Binance navigates these waters, the eyes of both users and analysts are trained on how they will rectify these challenges."