Paradex reports outage and cancels open crypto orders

Crypto derivatives exchange Paradex reported a platform-wide outage that left its trading interface and core infrastructure unavailable.

The exchange said multiple services were affected, including its user interface, cloud and API systems, blockchain components, bridge and block explorer.

Paradex said it was working through a rollback and recovery process but did not disclose the cause of the disruption or a full restoration timeline.

As part of the recovery, the exchange force-cancelled all open orders except take-profit and stop-loss orders.

Paradex said further updates would be shared as the investigation continues.

The exchange warned users about fake support accounts impersonating its team during the outage.

Paradex said it would never ask users for private keys and urged traders to treat unsolicited messages as scams.

Community members raised concerns on social media about open leveraged positions during the downtime.

“The team has identified the issue and will be rolling back the chain’s state to block 1604710,”

Clement Ho said in a Telegram update.

Paradex later confirmed that recovery efforts were ongoing and that all user funds remained safe.

In a subsequent update, the exchange said its platform and vault withdrawals had been re-enabled, while Gigavault deposits and withdrawals would remain paused for up to 24 hours.

Data from DefiLlama shows Paradex ranks among the top onchain derivatives venues by 30-day trading volume.