Bitfinex Goes Down As The Bitcoin Gold Hysteria Continues;

The Taiwanese-Based Exchange Is Down As of 7:30 p.m EST; Investors Are Worried That This Could be Another Hack!

Image shows a Bad gateway return from the CDN network used by Bitfinex.
Image shows a Bad gateway return from the CDN network used by Bitfinex.

As of 7:19 p.m EST, Bitfinex.com is down. We cannot confirm or deny why the website is down, however, the company claims that Infrastructure maintenance is taking longer than expected.  Anyone that has any Ethers/Bitcoin or any other cryptocurrency on the platform is probably very worried about this “Infrastructure update”. Bitfinex is a cryptocurrency exchange, trading and currency-storage platform based out of Taiwan, owned and operated by iFinex Inc. Since 2014, the exchange has been the largest platform for trading Bitcoin, with over 10% of the exchanges’ trading. In 2016, Bitfinex was hacked, and $72 million in Bitcoin was stolen from its customers. We presume that today (November 25, 2017) marks yet another hack against the Taiwanese cryptocurrency exchange. As of yet, there is no official confirmation on a hack, but the company is blaming “extended infrastructure maintenance” as the route of the problem.

 

The company did disclose that it would be executing a planned infrastructure maintenance, however, the process is taking longer than usual. The company stated on Saturday that they would be undertaking platform maintenance sometime between 11:30 PM UTC and 16:00 PM UTC on November 26th. The company warned that customers should be expecting an interruption of approximate 10 minutes where trading and financing may be unavailable. The issue has far surpassed 10 minutes and has now well exceeded 3 hours.

The problem is that this “Infrastructure Update” may present a perfect opportunity for hackers to strike as the company has its guards down. Hackers have long set Bitfinex as a prime target for attacks, given the exchange’s geolocation and close proximity to professional hackers in Asia. If hackers are planning to attack the cryptocurrency exchange, the best time for them to do so would be just now!

-- Written And Consolidated By Judi Alan & Staff ©

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