Cryptocurrency exchange OKX resumed withdrawals and deposits for its users after it suffered a downtime for several hours on Dec. 18.

The latest update from the exchange confirmed that deposits and withdrawals have resumed for Bitcoin (BTC), Ethereum (ETH), Tron (TRX), USDT, USDC, and other ERC-20 and TRC-20 tokens. In contrast, support for other cryptocurrencies would be available by 9:00 am UTC.

According to the exchange, its connection issues were caused by a third-party cloud service provider. OKX revealed that it uses Alibaba as its singular cloud provider -the cloud service provider had experienced equipment failure with its equipment in its Hong Kong Zone C.

Meanwhile, the downtime generated panic among users of the exchange. However, OKX assured users that their funds were safe and the exchange was only experiencing a technical problem.

OKX said it would be “implementing a multi-cloud deployment strategy to ensure our core services can be deployed on multiple clouds” to forestall a future recurrence. It added that it would cover all the potential losses due to connection issues that might have prevented some users from closing their orders.

Meanwhile, Gate.io, another exchange that experienced withdrawal issues during the last 24 hours, has resumed services. The exchange blamed its problems on node maintenance from an unnamed third-party cloud provider.

The post OKX and Gate.io resume withdrawals following cloud provider issues appeared first on CryptoSlate.

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Filed under: Bitcoin - @ December 19, 2022 1:00 pm