Dear Phemex Users,

We want to address the recent issue affecting our services on October 22nd, 2024. We understand the importance of transparency and are committed to keeping you informed.

System Outage Impact Overview:

Affected Users: USDT Perpetual contract users with UIDs greater than 7,000,000.

Impact:

From 07:00 UTC to 11:00 UTC, users faced issues where their latest balances were not visible, they could not transfer funds to their USDT Perpetual accounts, and around 45 users were unable to place orders.

Cause:

An upgrade to our asset engines encountered an edge case, which prevented them from syncing with the latest trading data. After resolving this issue, all affected asset engines successfully retrieved the trading data and resumed normal functionality.

Recovery and action:

All user data has been restored, and we will follow up with 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