On the 20th of June, Cryptocurrency exchange Bitfinex announced in a post that in the coming week the firm would be offline for up to seven hours.
According to the announcement, the exchange will be offline for up to seven hours to carry out upgrades. The post also stated that Bitfinex counterpart Ethfinex will also be going offline at the same time as Bitfinex for maintenance.
Users of the platform would not be able to trade, view or make use of their wallets on the exchange during the upgrade. Bitfinex assures its users that there will remain safe and unaffected throughout the upgrade process, the posts stated that traders are not required to take any action.
Lastly the post notes that even though the upgrade is scheduled to take place on the 26th of June there is a chance that it could be postponed.
“Whilst the platform upgrade is set to take place on June 26th, this date is largely dependent on broader cryptocurrency market conditions and the chance exists that the upgrade will be postponed if market movements are deemed too volatile.”