Estonia-based crypto exchange 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.”
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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-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.