Bitfinex Recommences Trading After Completing Maintenance: Report

Bitfinex, an iFinex-owed crypto exchange, has recently disclosed the platform’s “reduced performances” and announced a temporary suspension of trading. In a recent X post, Bitfinex updated that the platform would resume trading at 2:45 AM UTC after the successful completion of maintenance.

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. https://t.co/KjGkFaNQBl

— Bitfinex (@bitfinex) March 30, 2024

In the preceding post, Bitfinex invited the community’s attention to the ongoing investigation regarding the platform’s performance issues. The exchange appreciated the users’ patience and assured them they would provide updates on the subsequent developments.

We are investigating issues with platform reduced performances and have temporarily halted trading. We will keep everyone updated on here and our Status Page https://t.co/u3pYCVVGQq as we know more.
Thank you for your patience.

— Bitfinex (@bitfinex) March 30, 2024

According to the latest update, the platform has resumed trading in view-only mode at 2:40 AM UTC. Later, at 2:45 AM UTC, Bitfinex recommenced trading, confronting the identified issues. The post read,

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 remained cautious of the matter, with many responding to Bitfinex’s alert with anxiety. However, the crypto research platform Cryptoiz Research assured the community of Bitfinex’s imminent recovery, stating, “Bitfinex maintenance almost done!”

As Bitfinex, one of the largest Bitcoin trading platforms, rarely encounters technical glitches, the performance issue in question could be seen as an unusual incident. However, unlike glitches, multiple hacks and exploits can be identified in Bitfinex’s history.

One of the biggest exploits reported in Bitfinex was the 2016 hack executed by Heather Morgan and her husband, Lichtenstein. The couple reportedly stole more than 120,000 BTC worth $3.6 billion at the time.

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