OKX Witnesses Irregular Outage amid the Equipment Failure at Alibaba Cloud

OKX, a well-known crypto exchange, has witnessed disruptions in its service following the declaration of Alibaba Cloud (a primary infrastructure-providing firm) about a hardware failure. Alibaba Cloud mentioned that the platform’s Hong Kong-based data centre has experienced some hardware-related issues. On Saturday, the Alibaba Cloud Hong Kong IDC Zone C server turned offline and could not witness a recovery for several hours. As a result, several exchange platforms went down.

OKX Goes Through Service Disruptions due to Hardware Failure at Alibaba Cloud

On the official Twitter account of OKX, the crypto exchange – after the outage – shared that it was still making efforts to fix the issue. The developer team of the company has been contacting Alibaba to find some possible solutions in the shortest time possible. The platform asserted that once the problem is resolved, they will restart their services. While elaborating on this, OKX mentioned that the consumers’ funds are secure and the firm apologized for the inconvenience.

In this respect, another crypto exchange called also published an announcement saying that consumers may experience slow withdrawals and deposits. The company mentioned that this was because of their cloud service providers’ node maintenance. However, it also disclosed that the rest of its services such as trading are unaffected. The company assured the clients about the safety of their assets with the provision of fully trackable proof of reserve. Declares Cloud Services Downturn Thanks to Its Service Provider

In addition to this, brought to the front that the firm is presently observing the status of the network connection offered by the providers of cloud services. As per the cryptocurrency exchange, they will soon attempt to accelerate the withdrawals and deposits for the users. It added those whose withdrawals are pending and who do not intend to avail them can terminate them right away or can wait till the service is restored.

Most recently, OKX shared tweets about the positive developments. It declared that its cloud service was to restart shortly and revealed the provision of a pre-open process to permit the customers to manage margins and/or place and cancel post-only orders. Shortly after, the exchange shared more optimistic news saying that a few cloud services have been restarted by Alibaba Cloud though not in a fully stable form. It claimed to offer systematic updates and guidance with time to let them circumvent such problems in the future.

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