Within a month’s time, the cryptocurrency exchange WazirX crashed for the second time. Users of the platform have taken to the microblogging site to raise the problem faced by them due to the outage.
The trading platform crashed as meme-based cryptocurrency Dogecoin touched an all-time high of Rs 48 ($0.61), as per the exchange.
Many complained that the platform showed no data available or were showing that the user’s wallet had no balance even though it had.
As the OTP authentication failed, some traders were unable to execute the transaction of Dogecoin.
Many users complained about the losses they may end up incurring due to the issues faced by the exchange.
After the platform was made aware about the issue, it tweeted (at 7.56 pm) that it received reports that users are facing delays in the WazirX app and website. It added, “We’re investigating the issue and working on a fix. We’ll update you as soon as it’s done.”
Adding to it, Siddharth Menon, co-founder and COO of WazirX exchange said, “Doge fans, we have hit another all-time high volume. You may be experiencing slow down, our team is working on it to make things faster.” Since that some time has passed yet the issue is not completely resolved.
On April 4, when the trading platform faced an outage, the issue continued for over a day before it was resolved. It was found that the Binance-owned exchange crashed shortly after the exchange had crossed $270 million in daily trading volume. The CEO of the company, Nischal Shetty claimed this is the highest trading volume by any crypto exchange in India ever. The issue which the users were facing is mainly because of traffic.
This time around Shetty has not shared any information on the crash. Meanwhile, Menon stated that while exchange was back in action, Dogecoin trading was not very smooth.
While popular cryptocurrency Bitcoin is trading in red, Dogecoin was up by over 32.3 per cent at 9.45 IST.