Bitfinex Resumes Trading After Update: Report

Bitfinex, one of the cryptocurrency exchanges, recently announced a temporary suspension of trading due to "reduced platform performance." According to the latest information, the platform plans to resume operations after a successful completion of the update.

In its latest communication, Bitfinex stated that trading would resume at 2:45 a.m. Coordinated Universal Time (UTC) after the completion of the update work. The platform will initially operate in read-only mode, and users will have the option to cancel orders before full trading is restored.

The decision to suspend trading arose in the context of an ongoing investigation into the platform's performance. Bitfinex expressed gratitude to users for their patience and assured that it would regularly update the situation on its website and through social media.

The trading platform is one of the largest players in the cryptocurrency market, so any technical issues attract significant community interest. Despite rare outage incidents, Bitfinex has previously been affected by various hacking attacks, including one of the largest in history, which occurred in 2016 and resulted in the theft of over 120,000 BTC valued at $3.6 billion.

It is worth noting that despite security-related incidents, Bitfinex remains one of the most reputable cryptocurrency exchanges, and its prompt actions in case of technical issues help maintain the trust of the cryptocurrency community.

*this is not a financial advice