Bitfinex resumes trading after operational halt

Share IT

Key takeaways:

  • Bitfinex faced operational challenges and temporarily suspended trading.
  • The exchange announced that Trading on Bitfinex was set to resume following maintenance

Bitfinex, a prominent cryptocurrency exchange owned by iFinex, recently faced operational challenges leading to a temporary suspension of trading. 

The exchange disclosed issues with platform performance and announced a halt via social media, assuring users of ongoing updates through official channels and the status page.

Following a period of maintenance, Bitfinex resumed trading activity at 2:45 AM UTC, expressing gratitude for users’ patience during the disruption. The resumption, initially in view-only mode at 2:40 AM UTC, transitioned to full trading after addressing identified issues.

Our maintenance is nearing a successful completion and the Bitfinex platform will be returning in view-only mode with the option to cancel orders at 2:40 AM UTC, before trading opens at 2:45 AM UTC. Thank you for your patience

The community reaction was a mix of panic and cautious optimism, with users closely monitoring the situation. 

While some expressed anxiety in response to Bitfinex’s announcement, others found reassurance in the imminent recovery, as highlighted by Cryptoiz Research’s statement, “Bitfinex maintenance almost done!”

Bitfinex’s rarity of technical glitches makes this incident noteworthy, given its history of facing hacks and exploits. 

While Bitfinex usually encounters minimal technical issues, the recent performance problem is significant. Unlike technical glitches, Bitfinex has a history of encountering numerous hacks and exploits. 

For instance, back in November, the prominent cryptocurrency exchange disclosed a security breach occurring between October 30 and November 5. 

This incident stemmed from a targeted hacking attempt on a customer support agent, resulting in subsequent phishing attacks on Bitfinex users. Despite these breaches, Bitfinex maintains that the resulting damage was minimal, as outlined in a statement issued on November 4.

As Bitfinex navigates these operational challenges, users remain vigilant, emphasizing the importance of robust security measures and proactive communication from the exchange. 

Share IT
Aadrika Sharma
Aadrika Sharma

I enjoy writing and try to learn new things every passing day!

Get Daily Updates

Crypto News, NFTs and Market Updates

Claim Your Free Trading Guide

Sign up for newsletter below and get your free crypto trading guide.

Crypto Products

Can’t find what you’re looking for? Type below and hit enter!

Can’t find what you’re looking for? Type below and hit enter!