Cryptocurrency

Several Popular Web Services Including Crypto Exchanges Knocked out in Cloudflare Outage

Several Popular Web Services Including Crypto Exchanges Knocked out in Cloudflare Outage #Popular #Web #Services #Including #Crypto #Exchanges #Knocked #Cloudflare #Outage Welcome to Lopoid

An outage from content infrastructure provider Cloudflare left many popular web services without access for several hours, including several major cryptocurrency exchanges.

The outage, which affected the services of such high-profile exchanges as FTX, Bitfinex, and OKX, has raised further questions about the security of centralized crypto platforms. Despite being far more user-friendly, such centralized exchanges are much more susceptible to hacks. After being hit with Cloudflare’s service issues, OKX CEO Jay Hao tweeted asking for a “web3 alternative in the future.” 

Meanwhile, rival FTX, the world’s second-largest crypto exchange, briefly went into “post-only” trading mode during the outage. Other crypto-centric services that lost website availability during Cloudflare’s outage include block explorer Etherscan and crypto exchange Bitfinex. 

Earlier outages

After resolving a “wide-spread” outage earlier in the day, affecting many other such services like Discord, Omegle, DoorDash, Crunchyroll, NordVPN, and Feedly, many services affected by the incident were back online within an hour to two hours. According to DownDetector, a crowdsourced web monitoring tool that tracks outages, users also indicated struggling with access to Coinbase, Shopify, and League of Legends.

The company neglected to disclose what caused the issue, which had allegedly caused similar outages globally earlier in the week. Cloudflare chief technology office John Graham-Cumming said that the outage hadn’t spread around the world, but acknowledged that it had affected “a lot of places.”

Validator nodes

Last month, Cloudflare announced that it would launch and fully-stake validator nodes on Ethereum over the next few months. In addition to staking ETH, the company is also delving deeper into researching the next-generation consensus model.

“Cloudflare is going to participate in the research and development of the core infrastructure that helps keep Ethereum secure, fast, as well as energy-efficient for everyone,” the announcement read. Cloudflare provides protection against distributed denial of service (DDoS) attacks and other web-based threats for high-traffic websites and internet portals. 

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