OKX API Failure Causes Account Balance Confusion, Thousands of Users Affected
The OKX API has recently been plagued by a technical glitch that has left users in Singapore, Japan, and the United States with incorrect account balances.
According to reports on the OKX Telegram, affected users have experienced a range of issues, from accounts displaying zero balances to others showing balances skyrocketing into the tens of millions.
The widespread nature of the OKX API glitch has caused major frustration among traders, who have reported losses due to their inability to access or close positions.
In response to the numerous user complaints, OKX has acknowledged the issues with their Rest API, which facilitates connections to external services through standard HTTP requests.
We are aware some users have reported intermittent issues with our Rest API.
Our Websocket is functioning correctly and our app and website are not affected.
We are looking at the issue and we apologize for any inconvenience caused.
— OKX (@okx) March 27, 2024
The Rest API experienced a crash during this time, leading to errors, incorrect data, and failures when attempting to execute trades.
OKX has reassured users that their engineering team is actively working to resolve the API glitch and has emphasized the safety of user assets throughout the incident.
The exchange has also stated that their WebSocket, app, and website remain unaffected by the glitch.
Despite these assurances, the OKX API glitch has had repercussions on the exchange’s native token, OKB, causing a 2.21% decline in its value to $64.59 as of writing.
Prior to the current OKX API glitch, the exchange had recently integrated Uniswap Labs’ application programming interface (API) into its decentralized exchange (DEX) to allow gas-free trading through a feature called “Snap.”
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