Paradex | Crypto

Paradex said a planned database upgrade briefly corrupted funding data, prompting a chain rollback and refunds after unintended liquidations across multiple markets. Onchain derivatives platform Paradex refunded $650,000 to about 200 users after a maintenance-related software error triggered unintended liquidations across multiple markets. According to a Friday post-mortem shared on X by Paradex, the incident occurred during a planned 30-minute database upgrade on Monday, when a “race condition” caused corrupted market data to be written onchain. Paradex said the issue was operational and not the result of a hack or security breach. In response, Paradex temporarily disabled access to the platform, canceled all open orders except take-profit and stop-loss orders, and rolled back the chain to a snapshot taken before the maintenance window began.  Read more

The decentralized perpetuals exchange said multiple core services were affected as it worked through a rollback and recovery process. Update Jan 19, 1:44 pm UTC: This article has been updated to add information from Paradex’s Telegram channel. Crypto derivatives exchange Paradex reported a platform-wide service outage on Monday, leaving its trading interface and supporting infrastructure unavailable as the team investigates the issue.  According to its public status page, the disruption affected multiple business services, including its user interface, cloud and API services, blockchain components, bridge, block explorer and remote procedure call proxy.  Read more