Bitfinex Trading Suspension, Maintenance

Bitfinex Trading Suspension, Maintenance

Bitfinex Trading Suspension, Maintenance

Bitfinex’s history includes breaches and exploits, such as the 2016 incident where over 120,000 BTC was allegedly stolen.

Bitfinex, an iFinex-owned cryptocurrency exchange, recently announced a temporary suspension of trading and disclosed the “reduced performance” of the platform.

The exchange announced in a recent X post that trading would resume on the platform at 2:45 AM UTC after the effective conclusion of maintenance activities.

Bitfinex had previously drawn the community’s attention to an ongoing investigation concerning performance issues with the platform.

The exchange expressed gratitude for the users’ forbearance and guaranteed to furnish them with updates regarding any further developments.

At 2:40 AM UTC, the platform recommenced trading in view-only mode, per the most recent update. The exchange subsequently resumed trading at 2:45 AM UTC, addressing the identified issues. The message in the post was,

A considerable number of members of the community reacted with apprehension to the exchange’s alert regarding the subject.

Nonetheless, Cryptoiz Research, a platform for crypto research, reassured the community that the exchange would soon resume operations, asserting, “Bitfinex maintenance is nearly complete!”

Given the infrequent technical errors on the exchange, a prominent Bitcoin trading platform, the performance issue under consideration may be regarded as an atypical occurrence.

Bitfinex’s Historical Challenges

Bitfinex’s historical records reveal, in contrast to bugs, many breaches and exploits.

An exploit of significant magnitude documented on the exchange was the breach carried out in 2016 by Lichtenstein, the spouse of Heather Morgan. At the time, the couple allegedly plundered over 120,000 BTC, equivalent to $3.6 billion.

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