On Monday, October 12, the cryptocurrency exchange BitBay was unavailable to users for nearly two hours.
The company did not disclose the causes of the outage, but said that funds were safe.
Dear Users, our platform is currently unavailable. We are working on the resolution. Your funds are safe. We apologize for the inconvenience and ask for your patience. pic.twitter.com/44WL7v9B7k
— BitBay (@BitBay) October 12, 2020
In a second message, BitBay representatives said they planned to launch the exchange “with the transaction-processing capability blocked.” Users were given half an hour to cancel offers posted on the exchange before it went offline.
We have not managed to solve the problem yet. 🙁 We plan to launch the platform with the blocked possibility of transaction processing. You will have time to cancel offers (30 minutes). We will keep you updated on the situation. Thank you!
— BitBay (@BitBay) October 12, 2020
Trading resumed that evening. The exchange apologized for the inconvenience.
We are online! During the next 30 minutes, you can cancel previously posted offers. The trading will start at 8:10 pm (GMT+2). We apologize for the inconvenience and thank you very much for your understanding. pic.twitter.com/1vqFvA8fZZ
— BitBay (@BitBay) October 12, 2020
In 2020, this was the second outage for the exchange: trading stopped for 18 hours on March 27. At that time, BitBay representatives attributed the issue to a network problem caused by an external service provider.
Back in March, a serious outage hit the crypto-friendly Robinhood app. The first outage lasted about 17 hours amid high user activity. The second outage occurred a week later during a market downturn.
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