On December 18, the OKX cryptocurrency exchange experienced service disruptions due to a hardware failure at one of its Hong Kong data centres, disclosed by key infrastructure supplier Alibaba Cloud. OKX has since resolved the issue and resumed platform operations.
At 4 a.m. UTC on December 19, OKX resumed deposits and withdrawals of BTC, ETH, TRX, USDT, USDC, and other TRC20 and ERC20 tokens. Deposits and withdrawals of other listed crypto will resume on December 19 at 7 a.m. UTC.
UPDATE: #OKX has resumed Deposits and Withdrawals of BTC (mainnet), ETH (mainnet), USDT (ERC20/TRC20), USDC (ERC20/TRC20), and other ERC20 tokens at 4:00 on Dec 19 (UTC).
— OKX (@okx) December 19, 2022
Wallet services for the other crypto will resume in a few hours.https://t.co/5DcV9GqG7w pic.twitter.com/eeSrMJcGgz
We understand this can cause anxiety for customers who had open orders. We take reliability very seriously and sincerely apologize for any inconvenience and disruption. Please see details on this incident below, and our teams are actively responding to your inquiries in real-time.
OKX said earlier in its update regarding the downtime.
The Alibaba Cloud Hong Kong IDC Zone C server was down. Alibaba said its engineers were working to fix an “equipment anomaly” that had been discovered.
As a result, the OKX exchange was rendered inaccessible for a maximum of seven hours. Meanwhile, all transactions were halted for the duration of the seven-hour period.
Users who were in the middle of their transactions saw their transactions come to an abrupt halt. And users reported being extremely dissatisfied.
“Your funds are completely safe.” the exchange assured its users. The team also urged users to reach out to the support team in case they see any discrepancies.
The announcement states that there will be a 20-minute pre-open period before regular trading resumes. Users can cancel orders, place post-only orders, and add margin funds during the pre-open period, but the order matching system remains closed. Once pre-open ended on Dec 18, 6:50 pm UTC, OKX returned to regular trading.
The exchange further explained that the service suspension was the result of their reliance on a single cloud service provider. They are currently implementing a multi-cloud deployment strategy to ensure that the core services can be deployed across multiple clouds in the future. Once implemented, any issue with any single cloud service provider will no longer affect OKX’s core services, ensuring long-term service stability.
