Several Bitcoin Exchanges Suffer From Outages During Price Drop

These past days were not good for the Bitcoin ecosystem, that is true. Not only the PBOC impose a new AML regulation on Chinese Exchanges, but various trading platforms also experienced disruptions. For some people this seems like a great conspiracy to avoid significant financial losses, for cryptocurrency price collapses. Therefore, it is unusual to see so many trading platforms of this digital currency suffer problems the same day.

However, even though many people are focusing on Chinese bitcoin Exchanges, they are not the only ones that suffer from problems. There is information that the Exchanges have been affected; Huobi and OKCoin which calls attention, these affectations only in their respective cn domain names. However, users can still remove bitcoin from without any problems, unfortunately, although for very different reasons, they are not the only platforms that had problems yesterday.

In this sense, there is a list of bitcoin services that suffer from varied problems. First,, a platform well known for its cryptocurrency exchange services, experienced some rather unusual problems yesterday, one of these problems was that the payment card was placed in maintenance or out of service unexpectedly. This new disruption affected card deposits as well as the withdrawal process, meaning that cryptocurrency users could not buy or sell bitcoin in a convenient way. However, all other payment and withdrawal options were not affected by these problems, the interruption time was approximately one hour.

While these issues were happening on the CEX platform, LocalBitcoins struggled to keep its website online, that is, operational. In this regard, it is still unclear why companies had this problem at first, it is reported that the work teams, intend to investigate these events. At this moment everything indicates that the operation is normal. It does not explain why digital information systems failed when the price of bitcoin began to collapse, which is a very interesting coincidence, anything is mere coincidence, it can be.

However, the problem does not end here, one of the things that calls attention is that the Kraken’s platform could not be accessed for a few hours. Like the other two platforms, the outage was announced once bitcoin had dropped prices in a significant way. In another vein, Kraken took a few hours to restore everything, now the service is operational again. So we had several Exchanges out of service pretty much at the same time, everything happened is disconcerting, although some people say it’s pure coincidence.

During the events such as those described above, conspiracy theories are never far from reality, it is unfortunate that these platforms are trying to appear as coincidences during the downward movement or critical price of an asset such as the cryptocurrency, yet what happened there seems to be no reason to believe that there is a premeditated purpose. Cryptocurrency users need to move away from centralized platforms and store their asset funds in a wallet that they can fully control, such as cold storage or paper. When these things happen, many can get caught up in the inconveniences that Exchanges may have and can not access their much-needed funds. New announcements are expected.


Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and/or services. This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest.

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1 Response

  1. Keza says:

    happened again…coincidence?!?

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