It is always troublesome when a cryptocurrency exchange goes offline. In most cases, this has something to do with planned maintenance. However, BTC-E is offline due to a different reason altogether. More specifically, the exchange is undergoing some unscheduled maintenance. It appears a data center issue is the main reason for this downtime right now.
A lot of people are concerned about the BTC-E downtime. That is not entirely surprising, though, as the exchange has a bit of a checked history. We have seen multiple hacks affect this platform over the years. Additionally, they regularly undergo maintenance, which means users experience downtime on multiple occasions. This latest outage, however, is a little bit more disconcerting than others. In fact, it is not planned at all, which always fuels a lot of rumors.
BTC-E Downtime has Cryptocurrency Users Concerned
Considering BTC-E is one of the oldest exchanges, they are not pulling an exit scam. There is no reason for them to do so whatsoever. It is a convenient solution for anyone dealing with Russian Rubles looking to get involved in Bitcoin. Even though the platform has not seen the highest trading volume recently, they are still a valuable part of the Bitcoin ecosystem. Unfortunately, even companies such as this one can be affected by data center issues.
В связи с техническими работами в дата центре btc-e может быть временно недоступен #btce
— BTC-E (@btcecom) July 25, 2017
Trouble started brewing about 20 hours ago. The company announced on Twitter how there would be some data center issues to contend with. It is unclear how long this issue will remain, though, as it is not in the hands of the company itself right now. Unplanned maintenance at the data center is quite annoying, to say the least. Around 17 hours ago, it seemed things would be resolved soon. Unfortunately, that has not been the case so far. Five hours later the company mentions how the issue is still under investigation.
Update: Технические работы близки к завершению. Спасибо за понимание. #btce
— BTC-E (@btcecom) July 25, 2017
A lot of cryptocurrency users are not too pleased about this situation. That is only to be expected, though, as exchanges are the lifeblood of cryptocurrency these days. We can only hope BTC-E can resolve this situation sooner rather than later. For now, they are the only exchange suffering from such issues. The fact they do not have a backup solution for this data center maintenance issue is quite troublesome, though. This goes to show exchanges need to work on backup solutions as well. Outages like these will cause market panic, that much is evident.
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