Paradex has confirmed that the brief platform interruption that occurred earlier this week did not affect the safety of any user funds or assets.
The incident took place during the deployment of internal system fixes and lasted for several hours. It has now been fully resolved and normal operations have resumed.
The platform emphasizes that throughout the process:
User balances were not affected
All assets remained secure at all times
No loss of funds, abnormal transfers, or account risks occurred
After the issue was identified, the Paradex team immediately initiated an emergency response process, continuously updating the community with information while advancing the repair work to ensure transparent communication.
Unified Information Release Mechanism to Ensure Clear and Transparent Communication
During the system maintenance, Paradex used Discord as the sole official information release channel to avoid fragmented information and the spread of unverified messages.
Users continuously received updates through this channel on:
Fault investigation and handling progress updates
Technical repair status explanations
Clear guidance on platform recovery time
At the same time, team members remained online to directly address user concerns and support personal account verifications or issue explanations, ensuring that user rights were not affected.
Observations and Explanations Regarding Some Media Reports
Paradex has noted that a large number of related reports quickly emerged in the market after the incident, including some media channels that had not previously followed or reported on Paradex.
Multiple articles were highly similar in publication timing and narrative perspective, raising reasonable questions about information amplification or synchronized narrative dissemination, rather than reports based on independent technical investigations.
Additionally, some content had the following issues:
Insufficient technical details
Some factual inaccuracies
Some reports were published before the official investigation was completed
Related content was subsequently further disseminated on social platforms, amplifying the impact of the incident beyond the actual technical issues.
Paradex points out that such situations are not uncommon in the cryptocurrency industry. Even mature platforms may encounter misinterpretations or overinterpretations during technical upgrades or system maintenance, reflecting the complexity of decentralized trading infrastructure itself.
Platform Operating Data Fully Restored and Continues to Grow
Since the system has fully recovered, Paradex's core operational metrics have stabilized and are showing a continuous upward trend:
The platform's cumulative trading volume has exceeded $1.5 billion
TVL (Total Value Locked) and the scale of open contracts have returned to pre-incident levels and continue to grow
The XP Rewards second season has entered its final two weeks, with the XP bonus mechanism remaining open and user participation stable
The related data indicates that users still maintain a high level of trust in Paradex's technical capabilities and platform stability.
Paradex's Position
Paradex states that in the rapidly evolving cryptocurrency 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 background to the media and community to support fact-based rational discussions.
About Paradex
Paradex is a decentralized trading platform focused on high performance, transparency, and user-first experience, serving global cryptocurrency traders.
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