Paradex Official Statement: Brief System Interruption Fully Resolved, User Funds Always Secure
- Core Viewpoint: The Paradex platform confirms that the brief interruption caused by system maintenance this week has been fully repaired, with no impact on any user fund safety. It also points out that some media reports contained factual inaccuracies and overinterpretation. Currently, platform operational data has fully recovered and continues to grow.
- Key Elements:
- The platform interruption occurred during an internal system repair deployment, lasting several hours. User balances, asset security, and accounts were unaffected.
- Paradex utilized Discord as its sole official channel for transparent communication, providing real-time updates on repair progress and directly addressing user concerns.
- The platform noted that some media reports had issues with technical details and factual accuracy, and were published before the official investigation was complete, leading to an amplification of the incident's impact.
- Since system restoration, the platform's cumulative trading volume has exceeded $1.5 billion, with TVL and open interest having recovered and continuing to grow.
- Paradex emphasizes its acceptance of industry scrutiny but calls for reporting to be based on accurate, professional, and objective facts.
Paradex has confirmed that the brief platform interruption that occurred earlier this week did not affect the security of any user funds or assets.
The incident occurred during the deployment of an internal system fix, lasted for several hours, and has now been fully resolved with normal operations restored.
The platform emphasized that throughout the entire process:
User balances were not affected in any way
All assets remained secure at all times
There were no fund losses, abnormal transfers, or account risks
After the issue was identified, the Paradex team immediately activated emergency response procedures. While advancing repair work, they continuously synchronized information with the community to ensure transparent communication.
Unified Information Release Mechanism Ensures Clear and Transparent Communication
During the system maintenance period, Paradex designated Discord as the sole official information release channel to prevent information fragmentation and the spread of unverified messages.
Users continuously received the following through this channel:
Updates on fault investigation and resolution progress
Explanations of the technical repair status
Clear guidance on platform restoration timelines
Simultaneously, team members remained online to directly address user concerns, support individual account verification or issue clarification, ensuring user rights were unaffected.
Observations and Clarifications Regarding Some Media Reports
Paradex noted that following the incident, a large number of related reports quickly appeared in the market, including from some media channels that had not previously consistently covered or reported on Paradex.
Many articles were highly similar in their publication timing and narrative angles, raising reasonable questions about information amplification or synchronized narrative dissemination, rather than being based on independent technical investigation.
Furthermore, some content exhibited the following issues:
Insufficient technical details
Inaccuracies in certain facts
Reports being published before the official investigation was complete
The related content was subsequently further amplified on social platforms, expanding the incident's impact beyond the scope of the actual technical issue.
Paradex pointed out that similar situations are not uncommon in the crypto industry. Even mature platforms can face misinterpretation or over-interpretation during technical upgrades or system maintenance, reflecting the inherent complexity of decentralized trading infrastructure.
Platform Operational Data Fully Recovered and Continues to Grow
Since the system's full recovery, Paradex's core operational metrics have completely stabilized and are showing a sustained upward trend:
Cumulative platform trading volume has exceeded $1.5 billion
TVL (Total Value Locked) and open interest have returned to pre-incident levels and continue to grow
XP Rewards Season 2 has entered its final two weeks, with the XP boost mechanism remaining open and user participation staying stable
Relevant data indicates that users maintain a high level of trust in Paradex's technical capabilities and platform stability.
Paradex's Stance
Paradex stated that in the rapidly developing crypto industry, accepting external attention and scrutiny is normal, but accuracy, professionalism, and objectivity are equally crucial.
The team is always willing to provide necessary data and technical context to media and the community to support fact-based, rational discussion.
