Today Bitfinex temporarily halted withdrawals and deposits, now restored

31 May, 2019
by David Borman
Today Bitfinex temporarily halted withdrawals and deposits, now restored

Today Bitfinex posted to twitter that they would be taking deposits and withdrawals offline for a few hours, due to a network provider "outage." Though the community was originally concerned, now it seems service is back up and no damage has been done.

Originally the response from the community was largely filled with concern that this was the beginning of a bigger issue. Many exchanges, before revealing major hacks or performing exit scams, start off by "performing maintenance," to buy time.

In order to calm fears, CTO Paolo Ardoino posted links to many of the exchange's hot wallets to show that no transactions were going out, meaning no hack or exit scam was occuring and funds were in fact safe:

Some however complained that this should have come direct from Bitfinex, not the CTO, though it was retweeted by Bitfinex.

In any event, just as promised, the exchange did reopen deposits and withdrawals about 3 hours after the initial outage, and everything seems to be normal again.

Despite the initial concerns, it looks like this was more of a non-event than anything else. Still, traders have every right to be kept up to the minute on what is going on at their exchanges. Are other service interruptions on the way? Stick with Chepicap for all updates!

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