Bitfinex to Shutdown January 7, 2019 to Enhance Traders and Investors’ Back Office Interface


As per a blogpost released on the official Bitfinex website, the premier crypto exchange will be going offline for a period of upto 7 hours on the 7th of January, 2019.

This shutdown, according to Bitfinex, is part of a scheduled ’data migration program’ that will see the firm transfer its cryptographically stored information onto its new dedicated bare-metal servers.

More On The Matter

In addition to all of the aforementioned details, Bitfinex and its Ethereum-based decentralized exchange, Ethfinex Trustless, are all set to move from their existing AWS cloud module to a “self-designed infrastructure” that will be hosted in a data centre located somewhere in Switzerland.

On the matter, a spokesperson for the firm was quoted as saying:

“Data migration to dedicated bare-metal servers is atypical in our industry, and we have modeled our approach on traditional stock exchange operations. It has been a considerable undertaking, but one we felt was integral to provide a service up to the standard that professional traders are used to in other sectors.”

Final Take

Even though this latest move could result in a significant amount of downtime for the exchange, Bitfinex believes that moving forward this latest move will help the exchange bolster its existing security and efficiency protocols.

Last but not least, users should mentally prepare themselves not use their wallets or any other feature on either of Bitfinex’s platforms for pretty much the entirety of the day (i.e. Jan 7).

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide