Bitfinex resumes trading after five hours of downtime

In the early hours of Thursday, August 13, the cryptocurrency exchange Bitfinex halted operations, citing issues with displaying the balances for several customers.

The exchange halted trading pending clarification of the causes at 20:25 UTC on Wednesday, and the platform resumed operations at 01:46 UTC.

“For the safety of Bitfinex’s customers, we decided to shut down the platform, conduct an investigation, fix the fault and only then restore the service”, wrote Bitfinex’s chief technology officer Paolo Ardoino.

Few hours ago we noticed that few customers were affected by a balance issue.
We decided, for the safety of all @bitfinex customers, to take down the platform, investigate, fix and restore the service.

Apologies for the inconvenience 🦁 https://t.co/h1RSiEEFhu

— Paolo Ardoino (@paoloardoino) August 13, 2020

Bitfinex said customer funds were not affected.

Thanks for your patience thus far.
In 30 mins we will provide an ETA for re-opening trading-activities.
Funds are safe.

— Bitfinex (@bitfinex) August 13, 2020

Anyway last time, I’m leaving this exchange for good, I cant take this anymore. We want improvement sound to much to ask you guys.

— Dr Kerns E Boisrond (@kerns_boisrond) August 12, 2020

According to a May study by The Block, Bitfinex’s share of the market in the adjusted trading volume among credible participants has fallen from 13.7% to 5.0% since January 2019.

Earlier this month, Bitfinex proposed $400m for the return of bitcoins stolen in 2016 during the exchange’s hack>.

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