Major Cryptocurrency Exchange Bitfinex to Go Offline for a Few Hours for System Upgrade

Libra Coin News
Thu, 08/01/2019 - 09:55
Yuri Molchan
Bitfinex exchange notifies that its scheduled upgrade is about to be implemented, so the platform is to go offline for three hours
Cover image via www.123rf.com
Contents

The major and controversial Bitfinex exchange announces a scheduled downtime during which it will perform an upgrade and improve crucial characteristics of the iFinex matching engine.

At 9.30 UTC, the platform plans to go offline for two or three hours.

All iFinex exchanges to go offline

For the implementation of the upgrade, all iFinex platforms will shut down briefly – Bitfinex, Ethfinex, etc. Traders will not be able to check their balances or conduct any operations over that time.

The company reminds that traders should make plans regarding their operations with crypto on those platforms. iFinex also assures that all user funds will be safe and traders will not lose anything from their hot wallets during the upgrade. All orders that were opened before the shutdown will resume once the exchanges go back online.

However, if the price of assets in the opened trades undergoes any significant changes, the positions may be liquidated when the platforms resume operations.

Bitfinex lists EOS-based USDT

Recently, in its blog post, Bitfinex announced that it now supports withdrawals and deposits of EOS-based Tether. The service is to be provided only to those clients who have passed a verification process on the platform.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.