OKX reports the resumption of withdrawals

The exchange will implement a multi-cloud strategy to prevent similar problems in the future

19.12.2022 - 07:15

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What’s new? On December 19, cryptocurrency exchange OKX reported a full resumption of deposits and withdrawals on the main networks. According to representatives of OKX on the company’s blog, a day earlier, a hardware failure occurred in the systems associated with the cloud service provider.

News on the exchange’s blog

What else is known? Deposit and withdrawal services were interrupted for several hours on December 18. The downtime was due to the work of cloud provider Alibaba Cloud, while all funds of the exchange’s customers were safe, OKX assured. The monitoring service detected a hardware malfunction that affected servers and the cloud database.

Due to problems at a third-party provider, OKX announced the development of a multi-cloud strategy for further development. After its implementation, the issues of a single provider will not affect the stability of OKX services.

On December 16, it became known that Tesla and SpaceX CEO Elon Musk subscribed to OKX’s account on Twitter. Moreover, this was the only exchange to which he was subscribed, the entrepreneur did not follow the accounts of crypto exchange Binance and its CEO Changpeng Zhao. However, after the withdrawal suspension incident, Musk unsubscribed from OKX.

Earlier, OKX announced compatibility with Ledger wallets. Users will be able to manage their cryptocurrencies on more than 40 blockchains and access decentralized exchanges (DEXs), NFT platforms, and decentralized applications (dApps) directly from their wallets. Currently, only the OKX web extension has compatibility with Ledger and Trezor wallets.

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