Business Cryptocurrency

See Why Bitfinex Halted all its Trading Operations???

Recently, several cryptocurrency enthusiasts found a bad news regarding the famous cryptocurrency exchange platform, Bitfinex. According to the news, the platform was forced to temporarily hold on all its trading services because of some connectivity issues. The reports suggested that the trading service they provide was experiencing the trouble at 14.55 UTC.

On account of these challenges, the team of Bitfinex shut down the trading operations as a precautionary measure. According to the updates, the trading services were offline for approximately 60 minutes. This seems to come out as sad news for the users of this famous cryptocurrency exchange platform, Bitfinex.

Bitfinex and its halt in trading services

This news hit online through Twitter when the tweet popped up from Bitfinex saying that “the root cause of the problem was determined to be unscheduled server restart by the company’s cloud service provider”.

Not only they halted their exchange services but also performed the restart and resync procedure. They did not stop there, the team also conducted a series of tests to ensure that the system stable and secure.

This tweet that Bitfinex posted online recently has disturbed all of its users. The halt in the trading services at Bitfinex for 60 minutes approximately, led to a rush among all the users of the platform.

After the issue that led to this halt on trading service at Bitfinex, they published a blog stating that they are taking concrete steps to avoid the recurrence of the event. Not only this but in the blog post, they also mentioned how sorry they were for the inconvenience.

As of 20.00 UTC, Friday 31st August all the services at Bitfinex were operating normally.

As per the latest updates, recently for an hour, the trading services on Bitfinex were put under halt due to some server issues. Good news, however, is that they retrieved all their services successfully.

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