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Bitfinex Exchange Back Online After ‘Issues’ Cause 2-Hour Outage

The platform underwent maintenance after trading was halted.

By Helene Braun
AccessTimeIconApr 19, 2022 at 2:50 p.m. UTC
Updated May 11, 2023 at 6:22 p.m. UTC
(Shutterstock)

(Shutterstock)

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Cryptocurrency exchange Bitfinex reported it had to “temporarily halt trading” on Tuesday, following an issue with the platform.

  • “We are investigating issues with the platform and have to temporarily halt trading,” Bitfinex wrote in a tweet. “We apologise for the inconvenience.”
  • The exchange was down for about two hours starting around 11:00 UTC. It was back online shortly after 13:00 UTC.
  • ​​“A minor glitch occurred during an internal server update,” a Bitfinex spokesperson told CoinDesk in an email. “As a precautionary measure, and given that current market conditions are not volatile, we paused trading to investigate further. Trading has now resumed.”
  • During the time Bitfinex was offline, the price of bitcoin (BTC) fluctuated from as high as $41,030.21 to a low of $40,665.31 on rival exchange Coinbase, according to data compiled by TradingView.

Read more: Tether's Paolo Ardoino on UST: 'It's All Fun and Games' Until You're a $100B Coin

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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Helene Braun
Helene Braun

Helene is a New York-based news reporter at CoinDesk, currently covering the criminal trial of infamous crypto mogul Sam Bankman-Fried. Helene is a recent graduate of New York University's business and economic reporting program and has appeared on CBS News and Nasdaq TradeTalks. She holds BTC and ETH.

Follow @HeleneBraunn on Twitter

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