In the early hours of the previous night, Bitfinex, a prominent cryptocurrency exchange, successfully resolved a platform outage that resulted in a temporary suspension of trading activities.

The official X account of the exchange posted an announcement stating, "We are currently investigating issues related to platform performance degradation and have temporarily halted trading."

Approximately two hours later, Bitfinex provided an update, indicating that the root cause of the problem had been identified, and efforts to rectify it were underway.

Less than ten minutes thereafter, the exchange announced that it was nearing the completion of the fix and would soon transition to view-only mode. Additionally, users were given the option to cancel orders within five minutes before trading resumed.

The issue was ultimately resolved at 3:48 am UTC, marking the successful restoration of platform functionality.