Bitfinex plans major maintenance, with 7 hours downtime

29 Dec, 2018
by David Robb
Exchange
Bitfinex plans major maintenance, with 7 hours downtime

Leading crypto exchange Bitfinex has announced that it will carrying out some major maintenance at the start of 2019. The trading platform, as well as its ERC-20 token exchange Ethfinex, will be offline for up to 7 hours on January 7.

According to the exchange, it will be migrating its data to new servers during this time. These new specialized "bare-metal" servers will apparently offer users improved security and performance. 

This move is part of Bitfinex's partnership with Swiss-based company Market Synergy, which offers institutional-level data security and connectivity solutions. This deal was first announced back in July.

Read more: Bitfinex partners with Market Synergy

Bitfinex assures customers that their funds will be safe during this time, although it acknowledges that it is a "significant length of time". However, some observers are already wary of this move. Major centralized exchanges are regularly accused of market manipulation in the crypto space, and extended periods where individual retail traders are unable to access their funds are looked at with suspicion, particularly when there is notable price action around the same time.

Read more: Binance announce maintenance is complete, normal trading resumesBitMEX goes offline, Bitcoin spikes by $300; what does this mean for the market?

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Read more about:Bitfinex

Poll

Do you believe Bitfinex was involved in market manipulation?

(40 votes)

Add a comment

I guess this maintenance is necessary anyway. I am ready to wait especially if security and performance on Bitfinex gonna get even better.
30 Dec, 2018 - 08:34
It is good that the real users understand it, when haters just blame Bitfinex in manipulations
09 Jan, 2019 - 21:47
okay then good that Bitfinex told it in advance
30 Dec, 2018 - 09:39
Yep, so we are ready to the maintenance.
waiting for the update from bitfinex, it should be smth new
07 Jan, 2019 - 08:31
It's better to carry out some major maintenance as Bitfinex, than don't do anything like Poloniex))))
30 Dec, 2018 - 20:49
7 hours is nothing compared with days of waiting for Poloniex….and there are no updates on those exchange yet
30 Dec, 2018 - 21:58
I think new updates are needed for every exchange. So new updates of Bitfinex
are not a big problem
30 Dec, 2018 - 22:25
It is good that Bitfinex did this, the platform is much more better now
12 Jan, 2019 - 02:59
Such release is not a reason not to trust Bitfinex. It is okay to have some technical pauses even for Bitfinex as compared with other exchanges.
30 Dec, 2018 - 22:39
I'd better wait for 7 hours for updating of Bitfinex than months for withdrawing if updated weren't made
30 Dec, 2018 - 23:47
7 hours? Okay, Bitfinex.
its not 2 days...
31 Dec, 2018 - 13:48
everything for updates, Bitfinex !
31 Dec, 2018 - 14:00
Wow. Seems like everything's going pretty good for bitfinex. Step like that requires a proper amount of funds.
02 Jan, 2019 - 11:53
It`s so cool that Bitfinex is going to use these atypical for their field facilities, I feel special. Though I`ve been always more than satisfied with the service provided by them, improved security and performance never does harm.
03 Jan, 2019 - 13:04
Great! Enhanced security and performance are worth 7 hours of waiting. Bitfinex, you`re gonna be the best technologically equipped exchange soon!
03 Jan, 2019 - 14:13
I think It's not critical. Bitfinex works well, so it's the most important
03 Jan, 2019 - 20:36
Every exchange and every platform sometimes has technical troubles. Moreover, I know the good reputation of Bitfinex and I'm not worried about the time to fix some problems for Bitfinex.
03 Jan, 2019 - 20:47
It`s great that my favorite exchange is gonna be even more secure. Those guys are brave enough to use atypical technology to give us the best service. Bitfinex, keep on good job!
04 Jan, 2019 - 06:44
I am sure this maintenance will bring something awesome. Team of Bitfinex prepared good news for us, I hope
07 Jan, 2019 - 08:06
I believe it too. I am an old user of bitfinex, they should do something awesome this time
08 Jan, 2019 - 04:43
its normal that people were anxious regarding this event, they need to understand that its for us, for our security
08 Jan, 2019 - 14:51
Bitfinex is a reliable and stable exchange. Every exchange and every platform has to fix its technical issues. So, Bitfinex is not the exception. I trust it and don't see any problems.
08 Jan, 2019 - 21:26
I'm tired with so many posts from Bitfinex haters. People, that's no reason to worry. Bitfinex is a huge exchange with a big load. It's everything ok if it decided to solve some technical issues.
09 Jan, 2019 - 21:32
Don't worry, just used good exchange
10 Jan, 2019 - 00:01
10 Jan, 2019 - 00:02
The Coinbase update went very well. Now servers are faster and have a higher level of security!
11 Jan, 2019 - 23:59
Yeah, I like the update too. Bitfinex did a good job
13 Jan, 2019 - 18:42
Bitfinex is an exchange with the good status why do they need to manipulate market? there is no need I am sure
13 Jan, 2019 - 19:58

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