Whenever a Bitcoin exchange is going through some troubles, there are immediate speculations regarding the platform being hacked. Huobi, one of the largest Chinese exchanges in the world, experienced issues with its CNY trading pair earlier today. Apparently this is due to an ongoing cyber attack, although specific details are very hard to come by right now.
Huobi Suffered From A Cyber Attack
Chinese Bitcoin exchanges bring in the majority of trading volume for the cryptocurrency. In most cases this is due to a trading pair against the Chinese Yuan, which is a convenient way for speculators to get involved in Bitcoin. On Huobi, however, accessing the CNY trading pair was pretty much impossible a few hours ago.
According to a conversation screenshot posted on Twitter, Huobi has been undergoing a cyber attack all morning. Exact details remain hard to come by, as the staff is working on resolving this problem as soon as possible. Oddly enough, no other trading markets seem affected by this alleged attack.
It did not take long for this news to cause some rumors regarding Huobi getting hacked. One Reddit user even jokingly stated how the company might be going through the same problems as Bitfinex suffered from not too long ago. Another Bitcoin exchange getting hacked is the last thing this ecosystem needs right now.
However, since the USD trading pairs on Huobi are not affected by this attack, it is doubtful a hack has taken place. This does beg the question why the company shut down the CNY pair, even though that is the busiest market on the exchange. Thankfully, the matter got resolved rather quickly, as trading resumed a few hours ago.
A hiccup on a Bitcoin exchange is not all that uncommon, to be fair. The company not posting an official explanation of what is going on, goes to show exchanges still struggle to communicate with customers on a large scale. The latest tweet by the company was sent on September 23, and it is doubtful they will provide an explanation anytime soon.
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