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OKX withdrawals halted after technical outage

An outage at the exchange's cloud operator prevented withdrawals from being processed.

By Mike Hesp
• 2 min read
OKX withdrawals halted after technical outage

An outage at the exchange's cloud operator prevented withdrawals from being processed. The incident has since been resolved. Glitches in withdrawal processing sparked concerns about the crypto exchange OKX on Sunday morning, December 18.

According to aView post on X, the company said outages at the cloud operator Alibaba had caused restrictions on the exchange's operations. Customer funds were reportedly not in danger.

The platform was back online only in the late evening. By four a.m. the withdrawals of the main cryptos were back up, View post on X. The exchange also published a separate incident report.

Since the collapse of FTX, there’s been a lot of investor uncertainty about the solvency of some crypto exchanges.

Even exchange giant Binance has been under pressure lately. Customers are pulling crypto from the exchange in large numbers as doubts arise about its proof of reserves. The ongoing U.S. Justice Department investigation into Binance is also creating significant uncertainty among some crypto followers.

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