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Several major cryptocurrency exchanges including FTX, Bitfinex, Bitmex, OKX, and Coinbase were briefly inaccessible after Cloudflare faced an outage for about an hour.
Cloudflare Outage Hits Major Crypto Platforms
Cloudflare, a content delivery network (CDN) posted early on June 21 that it is experiencing “widespread issues” with its services and network. https://twitter.com/Cloudflare/status/1539140097374793728 A number of services that rely on Cloudflare for distributed denial of service (DDOS) protection were hit by the outage including platforms like Discord, Omegle, DoorDash, NordVPN, Feedly, and Crunchyroll. Several crypto exchanges and other platforms were also affected including FTX, Bitfinex, Bitmex, OKX, Coinbase, Etherscan, and XUUM, a non-custodial wallet with problems in accessing the sites. Block explorer Etherscan and crypto exchange FTX and Bitfinex tweeted about their platforms being unavailable. https://twitter.com/etherscan/status/1539141893111816192 https://twitter.com/FTX_Official/status/1539140049807220736 However, many services affected by the Cloudflare incident were back online within two hours with most websites being back to full functionality.
Is Web3 Alternative The Answer?
The CEO of OKX Jay Hao tweeted about the incident, asking about a “web3 alternative in the future” after the crypto exchange was hit by Cloudflare’s service issues. https://twitter.com/Jay_OKX/status/1539145483100114944 However, Binance was one of the cryptocurrency exchanges that remained unaffected. According to the CEO, CZ Binance had a “redundant setup for one of the services many others rely on solely.” However, he also noted that the Binance-owned CoinMarketCap was affected by the outage. https://twitter.com/cz_binance/status/1539149671486062593