Paradex DEX rolls back to a previous block after an outage caused Bitcoin prices to drop to zero, affecting thousands of positions.
Paradex, a decentralized exchange specializing in perpetual contracts, has announced a rollback to block 1,604,710 following an eight-hour outage affecting its core services.
The disruption occurred during routine database maintenance, which inadvertently caused Bitcoin prices on the platform to plummet to zero. This glitch triggered the liquidation of numerous user positions, as reported by affected users on social media.
In response to the situation, the Paradex team has canceled all open orders, with the exception of those in TPSL format. They have assured users that all accounts will be restored to their last known good state prior to the maintenance.
“The process of returning funds is ongoing. We confirm that user assets are safe. Due to the complexity of the recovery process, we cannot currently provide a completion date,” the Paradex team stated.
According to DeFiLlama, Paradex ranks eighth in the perpetual DEX market with a trading volume of $37.3 billion over the last 30 days. In contrast, leading exchanges such as Hyperliquid ($141.4 billion) and Aster ($118.4 billion) significantly outpace it.
Paradex operates on the Starknet appchain of the Ethereum network. The platform has been utilizing this technology since before the launch of SN Stack in January 2025, which aims to create tailored protocols for specific applications. Established in Singapore and acquired by Coinbase in 2018, Paradex has undergone several technological changes since its inception, originally built on the 0x protocol.
