- The Aptos blockchain suffered a major outage amid its first birthday celebration.
- Cryptocurrency exchanges have suspended APT deposits and withdrawals.
- The blockchain announced the resumption of operations.
Security and stability are the watchwords for blockchain technology, yet they often get put to rigorous trials. While many networks are no strangers to hurdles, the impact of such challenges can sometimes be profound.
On the cusp of marking its one-year milestone, Layer-1 blockchain Aptos suffered an unexpected crisis that disrupted its anniversary festivities. The Move language-based blockchain, which boasts of providing the most scalable and secure network in the crypto market, experienced a major outage, sparking a disruptive wave across the crypto industry.
Blockchain Blackout Birthday
On October 19th, Layer-1 blockchain Aptos suffered a major outage that significantly impacted transactions on the network. The downtime, which began at exactly 7:11 UTC+8, halted the network’s operations, with on-chain transactions grinding to a halt at block 104,621,314.
The outage disrupted transaction processing on the blockchain, leaving users unable to complete transactions for a lengthy five-hour period.
Aptos Labs took to Twitter to confirm the impact of the disruption. The team emphasized the ongoing efforts to restore operations, demonstrating a commitment to resolving the issue and ensuring the network’s stability.
News of the outage reverberated throughout the crypto industry, prompting various exchanges to implement responsive measures.
Upbit and OKX Halt APT Transactions
In an official statement, South Korean-based cryptocurrency exchange Upbit initiated restricting APT deposits and withdrawals on its platform.
The exchange emphasized that Aptos’ circumstances necessitated a temporary suspension, which would remain in effect until the inspection and resolution process is completed.
While trading of the APT tokens is unaffected during this period, OKX cautioned investors, highlighting that risks may be heightened until operations return to normal.
Aptos Resumes Operations
Roughly five hours after the downtime, Aptos Labs confirmed the resumption of operations via Twitter.
The team assured that users can process transactions normally, following the implementation of necessary fixes to address the issues that disrupted the blockchain system.
While the causes of the outage remain undisclosed, Aptos Labs encouraged users to “party on” with the AptosOne celebrations without interruption.
On the Flipside
- Some users have raised comparisons of the Aptos outage to the Solana Blockchain network, known for its frequent outages.
- On September 5th, Coinbase incubated the Ethereum Layer-2 blockchain Base and experienced a major outage less than a month after launch.
Why This Matters
The disruption on the Aptos network is a compelling reminder of the critical importance of upholding stability and dependability on blockchain networks to ensure a more secure and reliable system for user protection.
Aptos Labs secured a major partnership with Microsoft earlier this year. Read more:
Aptos Lands Microsoft Deal; APT Surges Ahead of Token Unlock
Hong Kong’s unwavering commitment to fostering a world-leading digital hub was tested following the infamous JPEX scandal. Read more:
JPEX Scandal Rattles Hong Kong’s Crypto Confidence