The company assured that user funds are safe.
Crypto exchange OKX revealed experiencing an outage on March 17th due to intermittent issues with its servers.
In an update, the company said its tech team is working to resolve the service disruption and announcing the start of market pre-open. Its tweet regarding the same read,
“We are currently in cancel-only period. After which at 5:27pm UTC+8, trading will resume. We will do a post-mortem once everything is ok. Thank you for your patience.”
- A few minutes later, OKX resumed all services but asked its users to notify the team if they come across any abnormalities.
- OKX added that it will soon publish a post-mortem of the entire event.
- This isn’t the first time OKX revealed an outage. In December last year, the Seychelles-based crypto exchange suffered service disruptions after primary infrastructure provider Alibaba Cloud announced a hardware failure in Alibaba Cloud’s Hong Kong data center.
- The outage lasted for 24 hours, during which OKX processed no transactions.
- The latest outage, on the other hand, lasted for about an hour only, and users have not yet reported any glitches on their trades.
- CryptoPotato has reached out to OKX for a comment on the same.
- Meanwhile, OKX has been releasing its monthly Proof of Reserves (PoR) report allowing its users to verify that the platform holds the amount of cryptocurrency that it claims to.
- Its fourth report was released on February 20th, wherein it depicted holding clean assets worth $8.6 billion in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).