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Bittrex’s technical glitch causes mass hysteria amongst users

Namrata Shukla

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Bittrex's technical glitch causes mass hysteria amongst users
Source: Pixabay

The cryptocurrency market has seen enough hacks to make the users skeptical of any little glitch on the trading platforms. A similar incident took place on early January 30, when major cryptocurrency exchange Bittrex underwent certain “technical difficulties” that was enough for people to ask whether their funds were “safu”.

Bittrex had taken to their social media handle on Twitter to apologize to the users and address the issue. Bittrex’s tweet read:

“We apologize for the inconvenience, but we are encountering technical difficulties. We are working as quickly as we can to have access restored. We will continue to provide updates as we confirm more information.”

The users were also prompt in addressing their concerns to the exchange on the thread. Twitter user @pushpendrakum asked, “Are funds safu?”, to which the exchange explained that the site is undergoing some technical glitches. However, this did not satisfy another twitter user, @CajunHODL as the user said:

“That’s not a “yes””l

@CajunHODL wasn’t the only skeptic as few others showed the fear of hackers and were discussing to switch exchanges on the same twitter thread. @Dev17663067 said:



“Maybe time to switch to aws? More reliable.”

Meanwhile, Bittrex identified the problem to be vendor network outage and asked the users to have patience as they solve the problem. The exchange also informed the users that no orders were placed or executed during the downtime. Their direct communication with each and every tweet did not go unappreciated by the users and @CryptoQuantUK said:

“thank you guys at bittrex! I knew you would be on it, number #1 exchange of all time, wishing you success through 2019, kevin lock, UK”

Bittrex fast-tracked the process of fixing the problem from their end and were successful in doing so within hours. The exchange informed the users about the problem and that they have fixed it in a Twitter post.

“All fixed! The vendor network issue is resolved. Markets and wallets are back online. No orders were placed or executed during the downtime. All pending deposits have been credited.”





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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

Bitcoin

John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

Priya

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John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
Source: Unsplash

Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





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