Global cryptocurrency exchange OKX experienced an outage of several hours after a hardware failure occurred at the Hong Kong data center of major infrastructure provider Alibaba Cloud. OKX fixed this issue and has since resumed activity on the platform.
OKX resumed deposits and withdrawals of BTC, ETH, TRX, USDT, USDC, and other TRC20 and ERC20 tokens on December 19th at 4am UTC. Deposits and withdrawals for other listed cryptos will resume on December 19th at 7am UTC.
Sundays aren’t always fun days for the crypto community.
“We are currently experiencing intermittent connectivity errors with our cloud provider that are impacting user experience. Our development team is working with them to resolve it. Your funds are safe. We apologize for the inconvenience.” OKX murmured.
Cloud service provider Alibaba Cloud’s Hong Kong IDC Zone C server remained offline around 10pm ET on Saturday and did not recover for hours. The OKX development team worked with them to resolve the issue.
OKX Global Chief Marketing Officer Haider Rafique tweeted:
A few hours later, OKX announced that the platform was back online and trading activity resumed. The team has ensured that all user funds are safe.
There was a 20 minute pre-opening period before normal trading resumed. During the pre-open period, users were able to cancel orders, post-only orders, and add margin, but the order matching system remains closed.
After the pre-opening ended at 6:50pm UTC on December 18th, OKX returned to normal trading.
OKX pointed out that its reliance on a single cloud service provider was the reason for this service disruption. OKX’s technical team is putting together a multi-cloud deployment plan to ensure core services are available in different clouds and to prevent this outage from happening again.
OKX said: “Once implemented, issues with a single cloud service provider will no longer impact OKX’s core services, ensuring long-term service stability.”
Also read: Russia blocks access to cryptocurrency exchange OKX website