BitBay Resumes Crypto Trading After Hours of Unexpected Outage

Estonia-based crypto Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term BitBay has resumed all its services after hours of an unexpected outage.

The exchange first restored the login option for its customers, followed by the resume of all trading services along with the withdrawals and deposits.

We are online! ?

Thank you for your patience and understanding. You are the best! From now you can log in to account and cancel listed orders. Trading on BitBay will be available again tomorrow at 9:00 am. — BitBay (@BitBay) March 27, 2020

BitBay services were hit yesterday, stopping traders from accessing trading services in the exchange, Finance Magnates reported.

Though the exchange first said that it was facing issues with its external network provider, it later tweeted that the problem “turned out to be more complicated.”

As the outage was unexpected and lasted for hours, many are suspecting that the exchange was attacked.

The exchange, however, updated about its outage status and assured traders that all “funds are safe.”

Dear Users, around midnight we will inform you about the current status and plans to recover the platform. Your funds are safe. The failure has no effect on balances. The problem is not caused by a hacker attack.

— BitBay (@BitBay) March 26, 2020

Increasing demand for crypto trading

Registered in Estonia, BitBay’s primary client base is in Poland, where the company was established.

Per the exchange, it has over 80,000 traders on its platform, making it the third-largest crypto exchange on the continent.

The exchange recently saw a massive surge in its trading volume as Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term-Polish złoty (PLN) pair exchange peaked on March 13, with trades worth $75 million. Coinmarketcap.com data also show that the adjusted volume of the exchange on March 25 was over $39 million.

Notably, last year the exchange also faced issues with its payment service provider, which forced it to switch to Payment Technologies to handle PLN deposits and withdrawal services.