MoneyGram, the US-based financial services company known for facilitating money transfers and cryptocurrency trading, has temporarily halted its services due to an ongoing cybersecurity issue, the specifics of which are still unclear.

The issues reportedly began on Friday, September 20, when customers started experiencing problems, initially attributed to a network outage affecting connectivity.

After further investigation, MoneyGram confirmed on Monday that it had identified a cybersecurity issue impacting certain systems.

In a post on X, the company stated that an investigation was under way and some systems have been taken offline, which affected network connectivity.

“The firm added that it was working to restore our systems and resume normal operations.

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“We continue to make progress in successfully restoring some of our key transactional systems. Our dedicated team is actively working around the clock on resuming normal business operations,” MoneyGram said in a post on Tuesday.

“Once all systems are fully operational, transactions that are currently pending will be made available to customers. We apologize for any inconvenience and will continue to share relevant updates as available,” it said.