One of the world's largest cryptocurrency exchanges Bitfinex has earlier reported a suspension of trading and funding operations on its Twitter page sighting technical issues. Two hours later Bitfinex announced that it solved the issue with its trading engine and resumed trading option. No client’s funds are thought to be affected. However, a two hour break caused an extreme load of the platform once it was reopened. In it’s official statement Bitfinex said that it managed to identify the cause of both problems.
"A DDoS attack was launched soon after we restarted operations. The previous outage was caused by issues with one of our infrastructure providers. While the platform was recovering, the attack caused extreme load on the servers. We are adjusting the DDoS protection measures to fend off the attack and be able to relaunch."
Four hours on after the initial issue was detected the Bitfinex website has confirmed that the platform is returning to normal operations, saying that they “will keep monitoring the situation closely.“
By Nadya Astam