Though the outage was short-lived, it resulted in several detracted servers, multiple swapping websites, and data sharing. Some of the affected websites include Coinbase, Poloniex Exchange, and CoinMarketCap.
Crypto exchange Poloniex, unlike other affected exchanges, has neither confirmed nor denied that the outage was caused by its CDN provider Cloudflare. The issue was resolved at 10:18 am, and most of the websites were able to start carrying out administrative functions again.
About CDN Provider Cloudflare
Cloudflare is one of the most popular Content Delivery Network (CDN) providers. It is a platform used by many sites to speed up data distribution and media on the internet.
The platform began experiencing a lot more activity than usual at about 1:52 PM UTC/9:52 AM Eastern. This led to the websites getting jammed and finally collapsing, causing confusion and panic for many big crypto sites.
Immediately after the outage, Coinbase carried out several solutions to curb the outage. Poloniex, on the other hand, experienced the outage but insists that no funds were lost. The exchange made this announcement on Twitter: “Due to technical issues with our of our partners, Poloniex is currently unavailable for trading. We are working with our partner to resolve these issues as quickly as possible. All funds are safe, and we will keep you updated here.”
As far as we know, this outage didn’t cause any damages other than confusion and maybe a little panic.