- Crypto.com experienced an outage of their services due to unknown database issues
- Some users tried to exploit this situation for “illegitimate trades”
- The exchange was forced to revert its database to a snapshot from September 22nd
Crypto.com has just announced that their exchange has come back online at 2:15 AM UTC, on September 22nd. After going through an unexpectedly prolonged outage of their exchange services since 4:21 PM UTC September 21st.
During the overnight maintenance of the Crypto.com exchange’s system, a database related issues have arisen. At the time of writing, it is not public knowledge of these issues’ nature.
What happened?
In a series of tweets, CEO of Crypto.com, Kris Marszalek has apologized to users for the ongoing outage caused by still unknown database issues. At the same time, he has announced that some illegitimate trades were attempted and that they will be reversed.
Marszalek has stated that its risk system did notice some users attempting to manipulate ETH/USDT price. How they tried to accomplish this, he did not elaborate on.
Those users were caught in an apparent attempt to secure the gains from this price manipulation by selling ETH to other coins available on the exchange. This attempt Crypto.com management has deemed as ïllegitimate trades”.
Crypto.com is “coming” back online
The post on the exchange’s official blog announced that the database issues were resolved in a somewhat awkward fashion. In an attempt to keep safe users’ funds, the exchange has resorted to reverting its database to a snapshot made at 3:45 PM UTC September 20th.
Though the exchange is profusely apologizing to their customers for both outages and caused inconveniences, they are still silent about the exact nature of issues that have caused it.
In the original Twitter thread, Marszalek has promised that Crypto.com will use the experience of this situation to “strengthen all systems accordingly.” All users are directed to address their questions and concerns about this outage at [email protected].
At the time of writing, there are many reports of users not being able to use the official Crypto.com app. At the same time, there are growing concerns about the fate of the orders that did hit the target during this outage. These questions remain unanswered.
Cover image: Pixabay.com
