OKX Reports Pperiodic Downtime Due To Alibaba Cloud Equipment Issue

The Alibaba Cloud Hong Kong IDC Zone C server had an outage on Saturday night about 10 p.m. Eastern Time and has been unable to recover for over seven hours as of the time this report was published. The outage occurred at around the same time.

Another piece of evidence is the information that has been saved on the chain, which shows that OKEx did not carry out any transactions during the aforementioned time period.

OKEx, a cryptocurrency exchange, experienced service delays as a result of a hardware failure that occurred at one of Alibaba Cloud's data centers in Hong Kong.

According to the data that is shown on the website of Alibaba Cloud, the server that is based in Hong Kong (China) is currently capable of operating three availability zones, and it has been doing so since 2014.

The cloud computing service provider issued a formal statement in which they confirmed the outage and said that they were working to resolve the issue.

OKX made the announcement at the same time that it was reporting the disruption in service that it is working with Alibaba Cloud to figure out a way to fix the issues that have been occurring.

In the meanwhile, customers are unable to withdraw or deposit money, and some have reported that a problem caused their account balances to falsely reflect $0 in the funds area of their accounts. This is due to the fact that the system is now experiencing technical difficulties.It has been confirmed by a number of investors that the agreements they were working on were stalled in the midst of the process, and several of them have voiced concern about potential financial losses.

At the beginning of the month of December, Avalanche blockchain began working with Alibaba Cloud to establish a partnership that would allow the latter to provide power for the former's Node-as-a-Service endeavors.

The purpose of the collaboration is to develop new technologies with the intention of launching validator nodes on the public blockchain platform that Avalanche offers for Asia.

Because of this link, Avalanche developers will be able to construct new validators by using the plug-and-play infrastructure as a service that is provided by Alibaba Cloud.

It was revealed that Avalanche hosts more than 1,200 validators and processes around 2 million transactions on a daily basis throughout the course of the announcement.