Crypto trading platform BitMEX reports technical snag, users suggest move to Deribit 24766 BitMEX technical snag
Rakesh Ranjan Parashar
Oct 8, 2018 at 11:06 PM

Bitcoin Mercantile Exchange (BitMEX), is again in the news and this time again it has been hit with another technical snag. This was announced by the exchange on Twitter. This latest announcement comes in the wake of some serious issues reported by users during the past two days.

The exchange tried to clear the air by releasing a statement which said:

“We have been experiencing WebSocket issues. We have since resolved this issue and continue to monitor on our side. Please note that a disconnected WebSocket can potentially display a zero account balance and we ask users to be patient while their WebSocket reconnects.”

This is the second time in a span of two months that the exchange has witnessed such issues. Back in August, the exchange announced that they were under a DDoS attack. The attack took place while the crypto trading platform was undergoing a maintenance update.

BitMEx had announced on Twitter:

“Services are back to normal. Combination of DdoS and price action caused a heavy load on data mirrors. Trading and market data feed response times remained normal while data fetches were slow. We are scaling that system and moving it out of the critical path of login.”

This latest issue came to light when a number of users took to Twitter to raise alarm about a number of issues they were facing, which included orders not being displayed, reduced liquidity, inability to make a trade, and trouble keeping the live data feed open.

The technical glitch led certain users to even suggest a move to Deribit, which is a direct competitor of BitMEX. One such user by the name of Syed Faizan Uddin said:

“I Suggest all users to shift to Deribit and reliable and probably a replacement of Bitmex in future. Why not be a part of it… Go Register yourself and start trading :)”

Another customer, Monsieur echoed similar sentiments:

“If you continue and don’t upgrade your system and server, you will soon lose most of your clients. Better alternatives are already knocking at the door. ticktock.”

Earlier this month on October 3, BitMEX announced that it has acquired the services of veteran regulator Angelina Kwan, former managing director and head of regulatory compliance for the Hong Kong Exchanges and Clearing Ltd (HKEX).

See Also: BitMEX trades 1 million XBT in 24 hours; CEO predicts Bitcoin to reach $50k soon

Hong Kong regulator moves to BitMEX as Chief Operating Officer

Image via Shutterstock

Join our Telegram group