OKEx has issued an update regarding its recent outage that existed for approximately seven hours, saying it was due to hardware issues with the cloud service provider.
18, the cryptocurrency exchange was hit with an outage that prevented customers from opening or closing trades and processing withdrawals for several hours. Forum Said On Twitter at the time:
“We currently have an intermittent connection error with our cloud provider that is affecting user experience. Our development team is working with them to resolve this. Funds are safe. Sorry for any inconvenience.”
To address the incident, OKX Free It said in an announcement today that the outage was due to hardware issues with its cloud service provider. “On December 18, 2022 UTC, our systems experienced a hardware issue with our cloud service provider, which resulted in an outage on our platform,” the exchange said.
OKX claimed that all user funds are safe. Furthermore, to ensure that this does not happen again in the future, the exchange says it will move away from reliance on a single cloud provider. Added this:
“Our engineering teams are implementing a multicloud deployment strategy to ensure that our core services are deployed across multiple clouds so that this does not happen again.”
The exchange had disclosed that its cloud service provider, Alibaba Cloud, the cloud computing unit of Alibaba Group Holding, experienced a system failure on Sunday.
In addition to OKEx, other major websites were also affected, including the websites and apps of the Monetary Authority of Macau, Galaxy Macau Hotel, Lotus TV Macau, and food delivery platform mFood. report good by the South China Morning Post, which is owned by Alibaba.
Alibaba Cloud, also known as Aliyun, is the largest infrastructure-as-a-service (IaaS) provider by revenue in Asia, and the third largest worldwide, by market share for four consecutive years to 2021. According to researcher Gartner.
The incident sent shock waves across the crypto industry as centralized exchanges are currently in the limelight amid the recent meltdown of FTX, which was the third largest cryptocurrency in the world. filed for Chapter 11 bankruptcy in early November.
Before OKX, another crypto exchange, Gate.io, announced Its users could intermittently experience delays in their deposits and withdrawals due to connection interruptions, suggesting that it was also dependent on Alibaba Cloud.
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