One of India’s biggest cryptocurrency exchanges, WazirX, faced an outage late Sunday evening. The Binance-owned exchange’s founder and CEO, Nischal Shetty took to Twitter to allay fears amongst investors saying that their wallets and revenue was protected and that the exchange was seeking to repair the trouble as quickly as probable. WazirX is one of the quite a few cryptocurrency exchanges investors use to trade in Bitcoin, Ethereum, and even the exchange’s personal tokens WRX.
This crash came just shortly following the Indian cryptocurrency exchange WazirX had crossed $200 million in day-to-day trading volume. It was launched in March 2018 and had also introduced its personal tokens, which had grown 145 % in just one day. This is the highest trading volume by any crypto exchange in the Indian market place, according to the organization, amid the regulatory uncertainty more than the use and adoption of cryptos by firms and men and women in the nation.
We’re awake and we’re monitoring the systems. There may be intermittent errors, group is working on solving these. https://t.co/qPrHIwL7O0
— Nischal (WazirX) ⚡️ (@NischalShetty) April 4, 2021
Took longer than anticipated. Trading is now ON! https://t.co/Fr9BKBYYAD
— Nischal (WazirX) ⚡️ (@NischalShetty) April 4, 2021
As per CoinMarketCap, WazirX was the 27th best crypto exchange globally based on visitors, liquidity, trading volumes, and self-assurance in the legitimacy of trading volumes. Its 24-hour trading volume stood at $218 million with 137 coins offered for trading to buyers.
The outage had WazirX trending on Twitter, with investors facing delays in transactions going by way of or trades not reflecting on the exchange. Shetty stated that challenge would be fixed as nicely.
For all these saying funds are displaying , it is mainly because components of the technique are not working. One such technique is the one that shows the fund worth.
It’ll commence displaying once again as quickly as all the services are back up. Team is working on bringing all the systems back on line https://t.co/mPTmuwW13s
— Nischal (WazirX) ⚡️ (@NischalShetty) April 4, 2021
The exchange is now back on line, though some investors are facing intermittent outages.
Also study: Binance-owned Indian crypto exchange WazirX crosses $200m in day-to-day trading volume, eyes $1bn in 2021