On Monday, crypto derivatives exchange Paradex reported a platform-wide outage that left its trading interface and supporting infrastructure offline, according to its public status page. The team said it is investigating while working through a rollback and recovery process.
The disruption affected the user interface, cloud and API services, blockchain components, bridge, block explorer and RPC proxy. Paradex said it did not provide a cause or a timeline for full restoration.
As part of recovery, Paradex said it would “force-cancel all open orders, with the exception of take-profit and stop-loss (TPSL) orders.” The platform warned users about fake support accounts and advised relying only on official channels.
Paradex reiterated that it “will never ask users for private keys.” Data from DefiLlama shows the exchange ranks eighth in 30-day onchain derivatives volume, with about $37 billion reported.
Community members posted on X, with one user urging an official update and another expressing concern about open leveraged positions. The team said further updates would appear on its status page and verified accounts, stated on X.
