Bitfinex will be performing a system upgrade on Thursday August 1st designed to enhance the stability and scalability of the iFinex matching engine.
The upgrade is set to commence at 9.30AM UTC and services will be offline for 2–3 hours. Please note that this is a rough estimate and the precise time may change slightly based on market movements.
The platform upgrade will require taking all iFinex trading platforms offline for the duration of the maintenance period. This means that traders across both Bitfinex and Ethfinex will be unable to trade, view or access their wallets during the update.
We kindly ask all our traders to plan ahead accordingly and make the necessary account adjustments prior to the start of the platform upgrade.
What this means for traders
Traders across Bitfinex will not be required to take any actions:
- All funds will remain safe and unaffected throughout the platform upgrade, and will not be at risk at any point.
- No orders will be executed during downtime. All open orders will be kept (regardless of price movements) and resume once the platform is back online.
- Users will not be liquidated during downtime. However, traders should be aware that if the price moves significantly during this time, they are at risk of liquidation as and when the platform is reopened. In line with this, we kindly ask all traders to review their margin requirements and assess the risk of market movement on their open margin positions before entering the maintenance window.
For more information on the day of the upgrade, please refer to the Bitfinex status page and Twitter account for official progress. We will let our users know 5 minutes before the platform re-opens. Trading will start 10 minutes after the platform is accessible again.
We appreciate your patience during the system upgrade and we look forward to presenting you with an improved trading experience.