On Dec 18th, 2022 UTC, our systems experienced a hardware issue with our cloud service provider that led to an outage on our platform. As a result, our customers were unable to open or close a trade or complete a withdrawal for several hours. We understand this can cause anxiety for customers who had open orders. We take reliability very seriously and sincerely apologize for any inconvenience and disruption. Please see details on this incident below and our teams are actively responding to your inquiries in real-time.
1. Safety of customer funds
Let's first address the elephant in the room. Your funds are completely safe. Deposits, withdrawals along with trading are coming back online. If you are seeing any discrepancies, please reach out to our support team and we are prioritizing responding to inquiries related to this matter.
2. Impact to open orders
There will be a 20-minutes pre-open period before regular trading resumes. In the pre-open period, you are able to cancel orders, place post-only orders, and add margin funds, but the order matching system is kept closed. Once pre-open finishes at 18 Dec, 6:50 pm UTC, OKX system will return to regular trading. For those who wish to deposit and withdraw funds from the exchange, you are able to do so within a few hours, at 19th Dec 4am (UTC).
If you are unable to cancel your order due to connection issues and it leads to a potential loss, we request that you please open a helpdesk ticket and send us the details so our team can quickly evaluate and, where necessary, OKX will take responsibility and cover the losses caused by the service interruption.
3. How are we ensuring this does not happen again?
This service suspension was caused by our dependence on a single cloud service provider. Our engineering teams are implementing a multicloud deployment strategy to ensure our core services can be deployed on multiple clouds so this does not happen again. Once implemented, any issue at any single cloud service provider will no longer affect OKX's core services, thus ensuring service stability in the long run. Further details regarding the multicloud deployment plan will be announced through the OKX official channels.
4. Which products were impacted
OKX exchange services and trading. OKX Web3 wallet and related services were unimpacted.
For any inquiries regarding this announcement, please feel free to contact us in the OKX Telegram group or via the Support Center.
We are confident that with the new multi-cloud implementation, we will prevent this situation from occurring in the future.
OKX
December 18, 2022 UTC
