Bithumb is the first and largest cryptocurrency exchange in Korea, regarding trading volume. Due to a recent increase in the number of users, the official website of Bithumb experienced an unexpected server outage.
In the wake of abandoning the SegWit2x update, the price of bitcoin cash rose dramatically from $600 to a high of $2,600. To capitalize on this steep increase, investors swarmed the Seoul-based exchange.
Consequently, the bitcoin exchange went down with server connection failure over the weekend and users were unable to make deposits and withdrawals for two hours on Sunday evening. Bithumb released a statement on the subject and outlined the massive influx of users at the site while also apologizing for the outage on its website.
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