The OKX API has recently encountered a technical malfunction, impacting users in Singapore, Japan, and the United States with inaccurate account balances.
As per reports shared on the OKX Telegram, affected users have faced various challenges, ranging from accounts reflecting zero balances to others displaying balances soaring into the tens of millions.
This widespread glitch in the OKX API has sparked significant frustration among traders, leading to reported losses owing to their inability to access or manage positions effectively.
OKX Acknowledges Rest API Issues and Reassures Users
In response to numerous user complaints, OKX has acknowledged issues with their Rest API, which serves as a conduit for connections to external services via standard HTTP requests.
The Rest API encountered a crash, resulting in errors, inaccurate data, and failures when executing trades.
Assuring users, OKX has stated that their engineering team is actively addressing the API glitch and emphasized the protection of user assets throughout the incident.
The exchange clarified that their WebSocket, app, and website remain unaffected by the glitch.
Despite these assurances, the OKX API glitch has impacted the exchange’s native token, OKB, leading to a 2.21% decline in its value to $64.59 as of the latest update.
Recent Developments and Glitches in the Crypto Space
Before the recent OKX API glitch, the exchange had recently integrated Uniswap Labs’ application programming interface (API) into its decentralized exchange (DEX), introducing gas-free trading through a feature called “Snap.”
This feature aimed to streamline decentralized token swapping and establish a direct link with Uniswap, thereby providing the OKX DEX access to the UniswapX protocol and its liquidity.
However, the OKX API glitch is not an isolated incident in the crypto space. In recent weeks, platforms like Coinbase and Solana have also faced outages and glitches.
Solana endured a nearly 5-hour outage in early February, during which block production abruptly halted. The issue stemmed from an infinite recompile loop triggered by a legacy loader program within the JIT cache, necessitating a network upgrade and restart by validator operators.
Coinbase, on the other hand, encountered an outage resulting in a $100 billion loss in Bitcoin market cap within just 15 minutes in late February. The disruption occurred amid a significant rally in Bitcoin prices, with CEO Brian Armstrong attributing the outage to unexpectedly high demand.
