Bitfinex Outage Map
The map below depicts the most recent cities worldwide where Bitfinex users have reported problems and outages. If you are having an issue with Bitfinex, make sure to submit a report below
The heatmap above shows where the most recent user-submitted and social media reports are geographically clustered. The density of these reports is depicted by the color scale as shown below.
Bitfinex users affected:
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Transactions
Bitfinex is a crypto-currency exchange trading and currency-storage platform based out of Taiwan, owned and operated by iFinex Inc. Since 2014, it has been the largest Bitcoin exchange platform, with over 10% of the exchange's trading.
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Most Affected Locations
Outage reports and issues in the past 15 days originated from:
| Location | Reports |
|---|---|
| Zürich, ZH | 1 |
Community Discussion
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Bitfinex Issues Reports
Latest outage, problems and issue reports in social media:
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RealEstateWars
(@RealEstateWarz) reported
@chamath Can you please tell us what you think about the claims that Tether (via Bitfinex) is artificially propping up BTC by printing more and more Tether out of think air? And if you think this will cause BTC to crash again until the Tether problem is flushed out? Thank you!
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Brandon
(@BranBTC) reported
@jiangji20 @FlintKaka @ki_young_ju The main problem in the past was when Bitfinex had their money frozen in a bank seizure (because they were forced to work with shadier banks because regular banks refused service), and tether lent them the money to cover the loss and used the IOUs as "cash equivalents"
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natural money
(@naturalmoneybtc) reported
@SantiagoAuFund The partial backing issue (74%) was created by the seizure of funds, leading to the bitfinex capital injection. It's not exactly rigorous to use that event as a foundation for a broader claim of fraud.
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JCR Central
(@jcrcentral) reported
@LukeMikic @glennhodl @RaoulGMI Unless the price of Bitcoin falls and the Tether group is using USD funds to pump the price of BTC. If Bitfinex is trying to time the trade and they are wrong - they won’t have enough USD to pay down USDT. And they are not required to per T’s & C’s. Scary.
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CryptoMinq
(@CryptoMinq) reported
@TommyThornton 1/2 I don’t think I am an expert but I have followed this topic. Tether is not incorporated in the US and I doubt it will be ever proven that it is a fraud. Most likely it will simply disappear (there are other stable coins) and its parent company Bitfinex will shut down
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Lance_Handstrong
(@LanceStronghan1) reported
@stbemi12 @BobLoukas Who cares, that will push BTC higher just like when bitfinex had the tether issue and everyone dumped USDT for BTC causing the price to rocket. People will just trade through USD on exchanges and people will use BTC as the medium even more than currently.
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Free Assange, now!! ALL lives matter!!
(@MaxH66700380) reported
@TommyThornton Not an expert on it but here are my 0.02, digged into it a few years ago: #Tether probably wasn't fully backed for a while. However, fee & interest income at #bitfinex in 2017/18 most likely cured that for most part As of now I don't see any indication that this would be an issue
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Adam Dedanga
(@adamdedanga) reported
@paoloardoino Perhaps an audit instead of a low IQ insult would put things to place. I think the image suites you guys at Tether/Bitfinex better. You really don't seem to understand that NORMALLY you'd do an audit of a big firm, especially one which claim to own $20B of USD to issue crypto $.
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RealEstateWars
(@RealEstateWarz) reported
@michael_saylor Can you please tell us what you think about the claims that Tether (via Bitfinex) is artificially propping up BTC by printing more and more Tether out of thin air? And if you think this will cause BTC to crash again until the Tether problem is flushed out?
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Lance_Handstrong
(@LanceStronghan1) reported
@stbemi12 @BobLoukas Who cares, that will push BTC higher just like when bitfinex had the tether issue because they dumped USDT for BTC. Then people will just trade through USD on exchanges and people will use BTC as the medium even more than currently.
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Tom R
(@tomryujo) reported
@dkcrypto13 Stupid question: if Tether is a scam (thanks for highlighting the risks) why would non-Bitfinex exchanges like Kraken accept it? Isn't that a huge risk for them? Or is everyone in cryptoland just closing their eyes to the problem?
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JCR Central
(@jcrcentral) reported
@TheMoonCarl Any concerns about the Tether / Bitfinex investigation? Given XRP shake out this stable coin issue is very concerning. Any thoughts?
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CryptoPivo
(@CryptoPivo) reported
@RealWillyBot I know that part. I asked you where are the BTC in BitFinex coming from ? They, BitFinex are down to 82k BTC while Coinbase has 800k in their wallets. You dont have to explain me theory, be 100% sure I KNOW the theory, lets talk facts.. Where do BTCs in BitFinex originate from ?
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Adam Back
(@adam3us) reported
@randomoracle @renepickhardt I've sent wires to and from bitfinex no problem, multiple times from europe. But your point about crypto only exchange moe is valid, just not for bitfinex: there are many smaller crypto only exchanges that dont have user bank wires. In a way tether outsourced that for them.
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JCR Central
(@jcrcentral) reported
@SantiagoAuFund Given the outlook (and I am in agreement) would be really good to get some insights on the Tether / Bitfinex issue brewing. This has the potential to be a real issue with no audit and a pending investigation. Why isn’t this on everyone’s radar?
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