The major Cryptocurrency exchange BitMEX recently had to go through a major technical outage on May 19, 2020 due to which the crypto exchange’s trading platform remained closed. BitMEX has now released the postmortem of the downtime on May 22, 2020 where it has explained the details of the outage it faced.
The postmortem report
According to the postmortem report, the BitMEX trading engine faced an unexpected server restart due to which the exchange faced a downtime between 12:00 UTC and 13:40 UTC. The company ensures that there were no liquidations that occurred during the period when the exchange was offline and customers’ funds were not at any risk.
Furthermore, the crypto exchange claims that all those withdrawals of customers pending during the outage period were processed quickly within the duration of 90 minutes as soon as it got online.
BitMEX is working to improve the resiliency of platform
As per the report, the crypto exchange BitMEX has decided to work on some improvements so that it won’t have to face any downtime again in the future. The company states in the blog post that it is doing everything that it can do to minimize the risks of the downtime and is taking some certain steps for this purpose.
The company says that it is striving hard to meet the growing expectations of the crypto industry and therefore it is working on improving the resiliency of its trading platform as the company stated:
“The cryptocurrency industry has come a long way in a short amount of time. We know that the expectations on us have risen and we’re working 24/7 to further improve the resiliency of our platform.”
BitMEX is also aggressively hiring new members to grow its teams. These include AML operations managers, a developer, a data engineer, various analysts, and many others for the locations of Hong Kong, Singapore, and San Francisco. They will contribute their efforts to the improvement of the BitMEX exchange’s platform to avoid any further technical outage in the future.