Shortly thereafter, the company said the situation had been resolved. “We have seen a recovery after implementing fixes, but our team is continuing to monitor the situation,” the tweet read.
In the community on Reddit, users reported delays in withdrawals, leaving thousands of dollars in the air. Recently, another user reported that they could not access the app or website at all. One post read: “Did the bear market crash their servers? It’s horrible if someone wants to do a quick trade”.
The outages came amid a general collapse in cryptocurrency prices, adding a special urgency to transactions and withdrawals. Bitcoin has fallen below $30,000, losing more than 25% of its value in a month. As with any financial turmoil, falling prices pushed many token holders to sell their assets and tested the underlying financial infrastructure of many institutions.
