OKX released the latest announcement, saying that the cloud service provider failure has been fixed, and transactions have resumed at 2:50 on December 19, and recharge and withdrawals have resumed at 12:00. Within the first 20 minutes of resuming trading, it is the downtime recovery protection stage. During this period, users can cancel orders, place Post only orders and replenish margins. At the same time, matching remains closed during this period, and no orders will be traded.
OKX said that for customers who have potential losses due to the suspension of trading, the Ouyi customer support team will take the initiative to contact, communicate the payment details, and bear all customer losses caused by the platform.
The following is the full text:
On December 18, 2022 UTC, our systems experienced hardware issues with our cloud service provider, causing an outage on our platform. As a result, our clients were unable to open or close transactions or complete withdrawals for several hours. We know this can cause anxiety for customers with open orders. We take reliability very seriously, and we apologize for any inconvenience and disruption. Please see details about this event below, our team is actively responding to your inquiries in real time.
1. Security of customer funds
Let's talk about the elephant in the room first. Your funds are absolutely safe. Deposits, withdrawals and transactions are coming back online. If you notice any discrepancies, please contact our support team and we will prioritize responding to inquiries related to this matter.
2. Billing impact
There will be a 20-minute pre-opening period before normal trading resumes. During the pre-opening period, you can cancel orders, place orders and make margin calls, but the matching system remains closed. Once the pre-market opening ends at 6:50 pm UTC on December 18, the OKX system will resume normal trading. For those looking to deposit and withdraw funds on the exchange, you can do so within a few hours, on December 19th at 4AM (UTC).
If you are unable to cancel your order due to connectivity issues and resulting in potential losses, we ask that you open a help desk ticket and send us the details so that our team can quickly assess and, if necessary, OKX will be held responsible and compensated for the interruption of service Loss.
3. How can we ensure this does not happen again?
This service suspension is due to our reliance on a single cloud service provider. Our engineering team is implementing a multi-cloud deployment strategy to ensure our core services can be deployed on multiple clouds so that this does not happen again. Once implemented, any problem with any cloud service provider will no longer affect the core services of OKX, thus ensuring the long-term stability of the service. More details about the multi-cloud deployment plan will be announced through OKX official channels.
4. Which products are affected
OKX trading services and transactions. OKX Web3 wallet and related services are not affected.
