WhatsApp outage hits trading in assets from crypto to Russian oil

FILE PHOTO: A 3D printed Whatsapp logo is pictured on a keyboard in front of binary code in this illustration taken September 24, 2021. REUTERS/Dado Ruvic/File Photo

LONDON/MOSCOW (Reuters) - WhatsApp's nearly six-hour long outage on Monday hit trading of assets from cryptocurrencies to Russian oil, market players said, although a quick shift to alternative platforms such as Telegram limited severe disruption.

Despite many financial institutions discouraging employees from using messaging services such as WhatsApp and other Facebook platforms that went down on Monday, their convenience has made them popular among traders communicating with clients in over-the-counter (OTC) markets.