Business & Finance

Bitfinex Suspended Trading To Tackle Connectivity Issue

Bitfinex, one of the most prominent cryptocurrency trading platform suffered from some hindrances yesterday. Apparently the services provided by the platform were disrupted. In order to tackle the bug that was generated, the trading services were temporarily adjourned for about an hour. It was reported that the problem had been caused by the cloud hosting provider that restarted a core matching server. The company kept its clientele informed through tweets

The damage control team was quick to respond and ensured that no data was unaccounted for. The team also moved the data awaiting allocation to the database. The system, however, remained unassailable, and afterwards a number of tests were carried out to ensure its proper function and subsequently the system was reset.

The exchange corporation also handed out a list of transactions that went through during that hour. These had the type: synchronising, as they had not been synced and moved to the company’s database, whereas some of them had the type: testing, which indicated the transaction carried out in order to test the functionality of the system.

The company ensured that they have now taken vital steps towards the protection of their system to avoid such an instance from happening again. They finally tweeted this putting an end to the problem that had ascended.

Hassaan Malik

Co-founder of BlockPublisher, Hassaan is a technologist at heart with a keen interest in blockchain, cryptos and traditional financial markets. Email: hassaan@blockpublisher.com, hassaanmalek@gmail.com

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