Bitrue announces resuming deposits, withdrawals on July 3rd

  • 29 June 2019, Saturday, 15:00

After receiving flak for terming “temporary maintenance”, what was communicated to be a case of system overload, that subsequently turned out to be a hack, Bitrue announced an upcoming “planned maintenance” after it resumed its operation.

Due to uncertainty about the situation, Bitrue had earlier stated that the exchange was undergoing for some “unplanned maintenance” and had apologized for the “miscommunication” with the users.

The maintenance was scheduled for three hours on July 4. The purpose of the maintenance was to reduce trading fees for the BTR token holders for trading purposes on Bitrue’s platform. The exchange also announced that BTR trading via the trading pairs BTR/BTC, BTR/XRP, BTR/USDT, and BTR/ETH would go live after the scheduled maintenance.

According to a recent update posted by the Singaporean cryptocurrency exchange’s official Twitter handle, deposits and withdrawals will be back online by the end of July 3. Bitrue had further revealed resuming of its operations with new enhanced security measures.

The latest digital exchange to fall victim to a hack, Bitrue had been surprisingly candid about the debacle and was also applauded by the community. Bitrue reported that everything was under its control within 24 hours of the security breach that led to 9.3 million in XRP and 2.5 million in ADA being stolen from its hot wallets.

The login and trading services were resumed on Bitrue’s platform and the affected user accounts had their assets replaced as per the exchange’s insurance policy.