Bitfinex Scheduled Upgrade Nearly Completed

Bitfinex Upgrade

Bitfinex has been down due to a scheduled maintenance of its platform announced on October 12. In a blog post, the platform has stated that the essence of the maintenance was to enhance the scalability and stability of its iFinex platform.

It added that uses of the platform won’t be able to make deposits and withdrawals for about 5 hours.
The infrastructural upgrade has been ongoing since 8.30 AM UTC and the announcement hinted that the upgrade duration may be slightly more than the stipulated period.

Keeping in Touch

The Bitfinex management stated that it would keep customers updated on the progress through its other communication channels such as Twitter.
According to the release:

The platform upgrade will require taking all iFinex trading platforms offline for the duration of the maintenance period. This means that Bitfinex traders will be unable to trade, view or obtain access to their wallets during the update.

Users were enjoined to adjust trading and other contact necessitating engagements with the exchange based on the information.

Customers’ Funds Are Safe

Even though orders will not be executed during this period, the management assured customers that their funds will not be at risk during to the maintenance activity. Trading will commence immediately the infrastructural upgrade was completed.

In the latest update, the exchange announced that the update has progressed to view-only mode stage.


Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative review of projects with the aim to determine the authenticity of their claims.