The BitBay outage of March 26 ago raises suspicions as users fear a system breach being covered by the crypto exchange platform.
The platform suddenly went offline without any prior notice. The exchange announced the news in a tweet, saying that the network is facing a problem with its external service provider. The exchange ensured users that it is in contact with the service provider and working to fix the solution.
Suspicions surround BitBay outage
Users responded to the tweet, asking for details regarding the issues. The company simply responded by saying, “We’ll let you know.” This caused great concern among its users, some of which suggested that the lack of information by the exchange is a hint indicating an “exit scam.” Moreover, there were no details regarding the “network provider” that is supposed to be at the center of the whole incident.
The exchange’s website also failed in addressing the issue properly, as it only contained one note regarding the incident. The company stated, “Technical work is ongoing. We apologize for the inconvenience.”
Four hours later, the company followed up with another tweet regarding the situation of the error. BitBay revealed that the “problem” is more “complicated” than what they believed it to be. However, BitBay’s Twitter handle did not reveal any specific details regarding the situation. The post ended with the exchange saying that it will keep users updated on the situation.
After more than 18 hours since the first post, the company followed up with another Twitter update regarding the BitBay outage revealing that the platform is back online. The exchange stated that the users are now able to sign in to their accounts while trading would begin on the platform starting March 28.
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