BitMEX clarifies its latest issues
In one reports detailed, exchange BitMEX, clarified the problems of the past few days that led to the temporary closure:
The BitMEX trading engine is currently down. We strive to get it back online as soon as possible. Other updates will follow shortly. For official updates, please follow https://t.co/fVa1FA9hNo
– BitMEX (@BitMEXdotcom) May 19, 2020
the reports begins with excuses for the exchange he had to close operations for approximately 90 minutes. In fact, at this stage, no operation could be performed. Then, the report continues to expose the incident.
The problem occurred on May 19 around 12:00 UTC, when it happened a restart of trading servers. In just 13 minutes, emails were sent with the notification of the problem to users.
Half an hour after recovering the servers, they unfortunately restarted a second time. The problem was due to a hardware failure, while actual recovery did not begin until an hour later, at 1:40 p.m., when the various trading operations were able to resume.
BitMEX said it is still working to improve and secure its systems, but cannot guarantee that this problem will not occur again in the future. In addition, due to the blockade, they were more than 38 thousand canceled orders, also because the exchange has integrated, for those who use the API, a “Dead Man’s Switch” function which allows you to set a timer to cancel the order if the exchange is not available for any reason.
It shows how centralizing trade is a problem not to be underestimatedand and can also cause blockages due to hardware problems. Are equally exposed to external attacks it can happen and it happens every day. Indeed, in the comments relating to the incident, it is emphasized that this type of platform is not secure and is invited to use decentralized exchanges or platforms that offer similar products such as that of dydx.
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