Poloniex and Deribit Disable Trading, What’s Happening With Cryptocurrency Exchanges?
Two popular cryptocurrency exchanges, Poloniex and Deribit announced that they suspended activities for a short period of time. On Twitter, both exchanges informed their customers that they have been experiencing technical issues with their platforms.
Poloniex, for example, said that they had some technical difficulties and that trading has been disabled. At the same time, trading has been placed into maintenance mode.
We are currently experiencing technical difficulty. Trading has been disabled and the site has been placed into maintenance mode.
— Poloniex Exchange (@Poloniex) January 17, 2019
Deribit explained that they experienced locked order books between 19.31 and 20.01 UTC. Due to this reason, trading had been halted.
However, the situation is now under control and trading books are open once again. The platform informed that they are investigating these issues.
We experienced locked order books between 19.41-20.01 UTC, where all trading had been halted. Trading has resumed, all books are open, and we are investigating. All books are open for trading again.
— Deribit (@DeribitExchange) January 17, 2019
This is something that has been worrying users around the world.
A few days ago, we have written how the New Zealand-based cryptocurrency exchange Cryptopia was hacked losing millions of dollars in digital assets.
— Luke Martin (@VentureCoinist) January 17, 2019
During the last few years, exchanges in the cryptocurrency market have been hacked, exposing users’ funds to criminals and losing millions of dollars.
As the crypto community has very present the hack that Cryptopia experienced, users are worried that other platforms could be targeted and attacked by hackers. Additionally, both exchanges, Poloniex and Deribit have been affected during the same hour, which has also raised concerns among crypto users.
It is always important to store digital assets using hardware wallets rather than exchanges. Centralized platforms that handle digital assets on behalf of their clients are usually targeted by attackers. Hardware wallets are currently the safest way to store virtual currencies.