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Paradex said a planned database upgrade briefly corrupted funding data, prompting a chain rollback and refunds after unintended liquidations across multiple markets.Onchain derivatives platform Paradex refunded $650,000 to about 200 users after a maintenance-related software error triggered unintended liquidations across multiple markets.
on Monday, when a “race condition” caused corrupted market data to be written onchain. Paradex said the issue was operational and not the result of a hack or security breach. In response, Paradex temporarily disabled access to the platform, canceled all open orders except take-profit and stop-loss orders, and rolled back the chain to a snapshot taken before the maintenance window began.Paradex is an onchain derivatives platform that lets traders take leveraged perpetual positions while keeping control of their funds, rather than depositing assets with a centralized exchange. The incident marked the first rollback of Paradex Chain, which the exchange described as “an undesired but necessary action to protect users and restore network integrity.” Paradex said it has implemented changes to prevent a recurrence, including updated service restart procedures, additional data validation checks, a revised scale-up process for full-downtime maintenance windows and price-band protections during post-only trading periods. Recent incidents highlight how operational and infrastructure failures, rather than hacks, can disrupt derivatives trading and crypto market access.after a code-ordering error and delayed oracle restarts led to mispriced trading and liquidations. The exchange put forth a governance vote on compensating affected traders with up to $462,000 from the protocol’s insurance fund.Internet infrastructure provider Cloudflare reported an “internal service degradation” in November. The issue disrupted access to the front ends of several major cryptocurrency platforms, briefly preventing users from reaching exchanges, wallets and data dashboards.Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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