TL;DR:
- The platform suffered a total outage affecting the UI, API, bridges, and block explorers.
- The team reverted the network to the last known correct state to preserve balances, canceling most open orders.
- The social media community has expressed frustration over abnormal liquidations and missed trading opportunities.
Paradex, the decentralized perpetual futures exchange, experienced a massive service interruption due to critical complications during database maintenance. Faced with this scenario, the team decided to execute a rollback, reverting the chain’s state to block height 1604710 to ensure account integrity.
The situation sparked an intense debate within the crypto community regarding network immutability and security in high-performance rollups. By performing the rollback, all trades, liquidations, and funding rates that occurred during the downtime were effectively voided, returning positions to their pre-maintenance levels.
Technical Challenges and Discontent in the Starknet Community
Although Paradex defended the measure as the best option to prevent permanent losses, many users criticized the lack of infrastructure robustness. On platforms like X, investors compared this event to recent issues at other perpetual DEXs, questioning whether “smart money” can trust systems that fail under routine maintenance protocols.
It is noteworthy that Paradex, founded by figures impacted by the FTX collapse, sought to position itself as a resilient alternative within the Starknet ecosystem. However, the execution of this rollback—despite moderate resistance from some sectors—highlights the vulnerabilities still faced by decentralized trading platforms in their growth stages.
For now, the platform’s status page confirms that services are gradually returning to normal as data recovery is completed. Investors should closely monitor the reactivation of withdrawal and trading functions, as well as potential announcements regarding compensation for opportunities lost during the technical blackout.
