By Michael Scott
The Chinese crypto exchange acknowledged longer processing time for deposits and withdrawals, citing the ongoing node maintenance by the cloud service provider. In an announcement conveyed on December 18, Gate.io assured users of their funds safety. Further, the statement illustrated that they could still process their transactions requests.
Sabotage Ruled Out as Causing the Delayed Transactions
The update dismissed alleged sabotage or infiltration by hackers. The statement indicated that service delays emerged from maintenance undertaken by the cloud service provider. Gate.io revealed assembling a team dedicated to monitor the network connection to ensure faster restoration of cloud services.
The statement indicated that the complete restoration of network connection will expedite the execution of withdrawal and deposit transactions.
The Gate.io update was noncommittal on whether the transactions’ delay arose from the equipment failure in Alibaba Cloud data center in Hong Kong.
Is OKX Outage Related with Transactions Delay Experienced in Gate.io?
The delay witnessed by Gate.io users coincided with the OKX’s outage attributed to server failure on December 17. OKX disclosed that the infrastructure provider took 15 hours to restore the server. The outage left users concerned over the safety of their digital assets as they could neither deposit nor withdraw.
Hours later, OKX announced the restoration of the pre-open procedure allowing users to cancel transactions, initiate orders and evaluate the margins. The OKX update indicated the restored cloud services were unstable.
A recent update conveyed on December 19 confirmed the resumption of deposits and withdrawals. The statement issued 0400 UTC confirmed the accessibility of ETH and BTC blockchains were fully operational. The update added that OKX users could access the ERC20, USDC (ERC20/TRC20), and USDT (ERC20/TRC20). Nonetheless, OKX admitted that it was yet to resume wallet services that involve other crypto assets.
Possible Equipment Failure in Alibaba Cloud Services Affecting Exchanges
The disrupted service delivery faced by both OKX and Gate.io occurs days after Alibaba Cloud confirmed partnering with Avalanche to develop its blockchain node service. The project scheduled for completion within the onset of 2023, will eliminate obstacles encountered when building blockchain applications.
The outage and delayed transactions witnessed by OKX and Gate.io invalidates Alibaba Cloud’s statement that the platform-as-a-service feature will shorten operational and maintenance time. Further, Alibaba Cloud had earlier this month indicated the new infrastructure supported by Avalanche blockchain will enable hosts proactively monitor their nodes functioning while automatically switching off during outage. Alibaba Cloud is yet to confirm if either of the incidents occurred leading to the OKX outage and delayed transactions witnessed by Gate.io users.
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