BitBay Resumes Crypto Trading After Hours of Unexpected Outage
After hours of unplanned outages, BitBay, a Estonia-based crypto exchange, has resumed its services.
First, the exchange restored the login option to its customers. Then, all trading services were resumed along with withdrawals and deposits.
BitBay services were stopped yesterday, preventing traders from accessing trading services on the exchange, Finance Magates reported.
Although the exchange initially stated that it was having problems with its network provider, the exchange later tweeted that the problem had “turned out to have been more complicated.”
Many suspect that the attack on the exchange occurred because the outage was sudden and lasted for several hours.
However, the exchange updated traders about its outage status, and assured them that all funds were safe.
Crypto trading is in high demand
BitBay is registered in Estonia. BitBay’s primary customer base is in Poland where it was founded.
According to the exchange, the platform has more than 80,000 traders, making it the third largest crypto exchange in Europe.
Recent trading volumes saw a huge increase in the exchange’s Bitcoin-Polish zloty pair (PLN) exchange. Trades totalling $75 million reached their peak on March 13. Coinmarketcap.com data shows that the adjusted volume on March 25 was $39 million.
Last year, the exchange had issues with its payment provider. This forced it to switch over to Payment Technologies in order to manage PLN withdrawals and deposits.