Global Cloudflare Outage Hits Crypto Platforms, Causing Widespread Downtime
A significant, global service disruption at Cloudflare on Tuesday caused numerous crypto platforms and other popular websites to go offline or experience severe access issues.
Sites Affected
- Many websites are impacted. Cryptocurrency-related platforms such as Arbiscan (Arbitrum’s block explorer), DefiLlama, and Toncoin faced downtime, along with the social media platform X.
- What caused this has been blamed on the Cloudflare: Cloudflare acknowledged the system-wide disruption, citing “Widespread 500 errors” and failures across its Dashboard and API. A 500 error indicates a generic internal server issue preventing access.
- Crypto exchange BitMEX confirmed it was investigating an outage linked to the Cloudflare issues. That has been part of the recorded issues.
- Cloudflare Inc. (NET) shares dropped 3.5% in pre-market trading following news of the outage. We still don’t know how much these outages will affect the markets.
Users across the world have reported how they can’t even navigate to bunch of websites that they use on a daily basis.
The Outage’s Scope
The internet service provider’s network failure resulted in multiple crypto front ends becoming unavailable or flashing intermittent “internal server errors.” For example, both Toncoin and Arbiscan were reported to be suffering “major outages.”
Cloudflare began investigating the issue, reporting the widespread 500 errors and system failures at 11:48 UTC.
This incident follows closely on the heels of a major outage experienced by Amazon Web Services (AWS) just a few weeks prior, which also disrupted services for thousands of sites, including major crypto platforms like Coinbase and its Base network, as well as Robinhood.
While Cloudflare announced plans for a U.S. dollar-backed stablecoin, NET Dollar, in September, the stablecoin has not yet been released.
