Crypto exchange OKX cited an “intermittent connection error” with its main cloud infrastructure provider Alibaba Cloud.
OKX was subject to a disruption of service after the Alibaba Cloud Hong Kong IDC Zone C server went down at around 10 pm ET on Saturday. The crypto exchange had not processed any transactions in the last 21 hours, as per on-chain data at the time of writing.
with @AlibabaCloudME confirmation of the issue, I don't think there is a need to panic. let's see when that will be fixed. @okx please have a backup on other cloud service provider. I know it's not easy but such a crisis in such time can be costly https://t.co/yA83FzM3p4
— Kareem (@KareemFarid) December 18, 2022
“Alibaba Cloud is still fixing their HK Zone C equipment failure. Our dev team has been in contact with them and have urged them to fix it ASAP. We are ready to resume once
Alibaba Cloud resolves its anomaly,” tweeted OKX on Sunday.
Later in the day, OKX said that some cloud services had resumed, but were not completely stable just yet. The exchange said it would gradually start a “pre-open procedure” where users could cancel orders, manage margins and place new orders in a post only mode.
The outage caused a significant degree of alarm for OKX users, some of whom had their trades interrupted midway, while others reported seeing their balances on the exchange reflected as zero.
Gate.io, another crypto exchange, also reported a slowdown in deposits and withdrawals on its platform on Sunday citing “node maintenance” of its cloud service providers.
It is unclear whether Amazon Cloud is one of Gate.io’s service providers. However, the exchange said that trading and services aside from deposits and withdrawals would not be affected by the connection issues.
“Your assets on Gate.io are safe and you can still trade normally,” said the Gate.io team in a blog post.