Dear Phemex Users,

We want to address the recent issue affecting our spot trading services on October 14, 2024. We understand the importance of transparency and are committed to keeping you informed.

Impact Overview

• Affected Users: Users with UIDs in the range [4,500,000 - 5,999,999].
• Affected Orders: Orders created or processed between 10:40 - 11:49 UTC.
• Issue: The spot trading engine implemented a routing configuration change, which led to internal connection issues between users' trading engines and the matching engines during that time.

This led to:

• Rejected orders due to insufficient funds, as funds were locked by previous orders.
• Inability for users to replace or cancel existing orders.

Please rest assured that the funds of the affected clients are correct.

Next Steps:

• Orders created before 10:40 UTC but filled between 10:40 and 11:49 UTC may show as unfilled to users. We will adjust the order and fund status for these trades.
• Orders created between 10:40 and 11:49 UTC but filled afterward will update the user's wallet balance. However, if the wallet does not have sufficient funds, the balance may go negative. We will investigate these cases and reach out to the affected users.

We sincerely apologize for any inconvenience this may have caused and appreciate your understanding and patience. Our team is committed to ensuring the reliability and robustness of our platform.

Thank you for your continued support.

Best regards,

The Phemex Team