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HomeNewsAccess Problem in Popular Cryptocurrency Exchange!

Access Problem in Popular Cryptocurrency Exchange!

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The giant cryptocurrency exchange OKX announced that it experienced an outage on March 17 due to intermittent problems with its servers! With the interruption, users reacted on Twitter! Here are the details…

Giant cryptocurrency exchange reported that it had a short-term outage

The giant cryptocurrency exchange OKX, in its statements on social media during the day, stated that there were interruptions due to the problem experienced by its servers. In the statements made, the company stated that the funds are safe, stating that the technology team is working to resolve the service interruption. Although the exchange immediately intervened by stating that the funds are safe, many cryptocurrency users are generally skeptical of such statements, as they have suffered from the FTX crash in recent months. The giant cryptocurrency exchange conveyed the following words in its statements:

“At the moment we are just in the blackout period. After that, trading will continue as of 12:27 CEST. When everything is ok, we will pass the general reports to the users. Thank you for your patience.”

A few minutes after the outage, OKX restarted all its services with the team’s work and asked users to notify the team in case of any mishaps or anomalies. OKX also announced that it will soon publish all its reports of the outage. The activities of the stock exchange are up-to-date and open in real time.

The giant Bitcoin exchange is not experiencing downtime for the first time!

This is not the first time OKX has revealed an outage, as we previously announced as cryptokoin.com. In December last year, the Seychelles-based crypto exchange suffered service disruptions after primary infrastructure provider Alibaba Cloud announced a hardware failure in its Hong Kong data center.

The critical outage lasted for 24 hours, during which OKX did not take any action. However, the most recent outage spanned a period of about an hour, and users have not yet reported any disruption to their trading.

On the other hand, OKX publishes its monthly Proof of Reserve (PoR) report, which many investors and exchanges have strongly requested to be published after the FTX crash of the past months, allowing its users to verify that the platform is holding the amount of cryptocurrencies claimed by the platform. The fourth report of the giant cryptocurrency exchange was published on February 20, 2023, and the reports show that the exchange has $8.6 billion worth of clean assets in Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).

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