Crypto exchange OKX experienced a 10-hour service outage due to a failure in Alibaba-linked cloud services. Latest updates confirm the issue has been resolved, and the exchange has resumed normal operations.
OKX was unavailable for nearly 10 hours following a cloud outage linked to Alibaba. During this period, users couldn’t execute transactions, including withdrawals, and some reported their account balances appeared as "zero." In an official statement, OKX attributed the issue to an equipment anomaly in Alibaba Cloud’s Hong Kong Zone C, detailed as an "equipment failure."
While funds remained secure during the downtime, OKX announced it would compensate users for losses incurred during the 10-hour disruption. Additionally, the exchange revealed plans to adopt a multi-cloud provider model to avoid reliance on a single service provider.
Gate.io Also Faces Delays
Parallel to OKX’s incident, crypto exchange Gate.io reported slowdowns and disruptions in deposit/withdrawal processing. Gate.io assured users that transactions were still being processed and funds remained safe:
We’re monitoring our cloud providers’ network connectivity and will expedite transactions once connections are restored.
No details confirmed whether Gate.io’s delays were related to the Alibaba Cloud outage. Complaints about slow transactions persisted for hours even after OKX resumed operations.
Similar outages have previously impacted crypto networks and exchanges. In 2021, Amazon’s Japanese server failure caused multiple exchanges to go offline for hours.
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FAQs
Q: How long was OKX offline?
A: Approximately 10 hours due to an Alibaba Cloud failure.
Q: Will OKX users be compensated?
A: Yes, OKX confirmed compensation for verifiable losses.
Q: Did Gate.io’s issues stem from the same outage?
A: Unconfirmed, but delays occurred around the same time.
Q: What’s OKX’s plan to prevent future outages?
A: Transitioning to a multi-cloud provider model for redundancy.
Q: Were user funds at risk during these outages?
A: Both exchanges confirmed funds remained secure.
Q: Have similar outages happened before?
A: Yes, notably Amazon’s 2021 server failure affecting multiple exchanges.
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