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The Paradex platform resumes the chain state after a complete service outage
On January 19, PANews reported that the decentralized exchange platform Paradex experienced a complete service outage. The responsible team issued an official statement via the official status page detailing the incident and their strategic plan for a rapid response. They confirmed that all accounts will be successfully restored to their previous states.
Complete Shutdown of All Core Services
The platform experienced a total shutdown affecting all critical components. Cloud services and APIs were no longer accessible to users, nor were the graphical user interfaces. The impact extended to the blockchain itself, where connection services, explorers, and RPC agents ceased functioning entirely. This comprehensive outage prompted the technical team to act immediately to identify the cause and develop an emergency response plan.
Data and Account Recovery Plan
The official team explained that they managed to identify the root cause of the problem and develop a comprehensive solution. The plan involves restoring the blockchain to block height 1,604,710, corresponding to the timestamp 04:27:54 UTC, which was the last verified safe point before the database maintenance began. Through this process, all user accounts and transactions will be restored to their pre-incident states.
Ongoing Investigation and Resolution
The incident still requires further technical investigation to prevent future occurrences. The Paradex technical team is analyzing all aspects of the events leading up to and during the outage to strengthen their security and monitoring mechanisms. The platform will provide regular updates on the progress of the response and resolution efforts for affected users.