SnapEx platform experienced a temporary service disruption between 20:00 to 21:45 (Singapore time) on 22nd August 2019. Our Tech team was alerted to a potential attack and activated an emergency security protocol to safeguard the integrity of the platform. This led to a service disruption that was experienced by users on the SnapEx app and website.
Our Tech team has successfully rectified the issue and both the SnapEx app and website are back online. All user funds are SAFU.
We are fully aware of users who had an open position during the service disruption and are in the midst of preparing for compensation for any losses that occurred.
Compensation for all Open Orders will be determined by the best met price available between the service disruption period:
Long Orders: Compensation = (Highest price during downtime - Price @ 20:00) x Position
Short Orders: Compensation = (Price @ 20:00 - Lowest price during downtime) x Position
All handling fees and loss margins invested will be reimbursed fully for any positions closed by the system due to Stop Loss.
All compensation and reimbursements will be processed within 3 working days. We sincerely apologise for any inconvenience caused and we appreciate your patience and understanding.
We are committed to improving the platform’s safety and allocating more resources to continuously upgrade our security protocols. Our team is ready to face challenges head-on - including from malicious attacks - which is part of the risks of operating and thriving in an industry that is as revolutionary and disruptive as the cryptocurrency industry.
We are here for the long run and we always place our user's experience and financial security as our utmost priority.
Please feel free to reach out to our Telegram admins or email support at email@example.com should you need any further assistance.