At 12:00 on November 8th, Beijing time, Dr. Cao Jing, the founder of BitMax, announced the latest progress in the Chinese community regarding the suspension of services on the BitMax platform starting yesterday. According to the latest official news, it is estimated that there will be about 36 hours as of press time. Restore service. Previously, the AWS account failed due to a third-party supplier’s error on the BitMax platform, which prevented users from logging in. In this AMA, Dr. Cao gave a clear response to the user’s concern 1) the cause of the incident 2) the processing progress 3) the recovery time 4) the user’s asset security and other issues, which are briefly summarized as follows:
(1) The cause of this incident was that the third-party supplier’s error caused the AWS account used by BitMax to malfunction, causing the webpage, H5 and APP to temporarily fail to connect.
(2) This incident does not involve exchange wallets, and the security of exchange funds will not be affected. The BitMax wallet address is publicly available and can be checked on the asset chain. Please do not spread rumors on the credible network.
(3) After the incident, BitMax got in touch with AWS officials as soon as possible and actively handled it. However, due to account issues, AWS only had shift workers on weekends, and AWS internal processes required strict approval. It will take some time for complete recovery. According to the latest official news, it is estimated that there are still 36 hours before the complete recovery.
In addition, Dr. Cao also emphasized that the emergency team is actively coordinating and handling this incident. He himself will be online 24 hours a day to maintain communication with community users at any time. In addition, he also urges users not to believe in network rumors. All news, please use BitMax official announcement Prevail.
The following is the detailed text record of this AMA:
1) What happened?
Dr. Cao Jing: The first point is that I want to synchronize with you about the specific problems: Due to problems with third-party service providers, BitMax’s AWS servers have large-scale problems and cannot be served. We are currently actively connecting with AWS.
It took us a while for the whole thing to slowly investigate the real situation. At the very beginning, we noticed that one or two servers had crashed. At that time, our technology began to investigate the cause. Because we have hundreds of servers, each server sometimes has insufficient memory or insufficient cpu. Then some servers need to be upgraded. This is a very common situation in the industry, so our first announcement is Everyone said that we have a server that needs to be upgraded and it is expected to be fine in a while.
Next, we found that the server slowly began to have problems on a large scale. This situation makes us think that there may be a problem on the AWS side, because before, whether it is Binance or FTX, in fact, there have been problems with services on the AWS side. So later we checked that there was a problem with the AWS service. In the second announcement, we reported that there was a problem with the AWS service. At the same time, we synchronized the situation we are fixing.
After in-depth investigation, we found that it was an error of a third-party service provider that caused an abnormality in our AWS account.
2) How is the situation now and when will the service be restored?
Dr. Cao Jing: The current situation is that we are working with the AWS global team to solve this problem. It is currently expected that recovery will take some time. Why does it take so long? The reason is that Amazon, to which AWS belongs, we all know that it is a very large company, and they have a layered review system. Even if there is any small modification to the account, it is necessary to submit a work order-approval-approval-implementation one by one. Since it happened on the weekend, even if the AWS team is very dedicated, they still work with us on weekends, but because they do have fewer people on shifts on weekends, the progress is slower than expected. (As of press time, the reporter has obtained information from the official, and it is estimated that it will take 36 hours to fully recover)
Regarding the specific time, I need to explain to you. At the beginning, the recovery time we received from AWS was within a few hours. So BitMax will give you a 48-hour service resumption announcement. 48 hours is a conservative estimate, because I think if AWS can restore the service in a few hours, then we need about 24 hours to reset and restart the server, and then the service can be restored. The 48 hours is to be a little conservative, and I don’t want to let you have a little time left in case there is any accident in the middle to not let everyone down.
But specifically in the AWS cooperation, because AWS involves account issues, the approval process is more cautious and strict. For example, we need to provide a lot of materials, and the layer-by-layer approval takes a lot of time. So the news we got recently is that AWS services can be restored in about 24 hours, so if our team has another 24 hours to reset the server, it will be almost 48 hours before the service can be restored. Of course, the specific time may change at that time. If Amazon handles it faster, we will advance it, and if Amazon handles it more slowly, it may have to be delayed. The current state is that we can’t do anything here, we can only wait for AWS to resume service, and then we can take over the follow-up work here, so the current state is that we are also in a passive waiting state.
3) Is the fund safe?
Dr. Cao Jing: Next, let me talk about the security of funds-funds are definitely safe. You can find the BitMax wallet address online, and neither of our hot or cold wallets have any transfers, so the funds must be safe. In response to online rumors, we can tell everyone with certainty that BitMax’s funds are definitely safe. The wallet address is open and transparent. If you are worried about the security of our wallet, you can check the status of most of our wallets by the block explorer. During this period, the wallet address has not been transferred out. The wallet must be safe and user assets There is no problem.
Dr. Cao Jing: This is almost the case. First of all, I think this is a very unfortunate incident. It has been almost two years since our BitMax service was launched. This is the first time that the service is abnormal due to the AWS account. Our technical capabilities and our safety literacy should be well-known in the industry, but this incident can only be said to be a very unfortunate incident. But our events are not the same as other exchange events. The first is that our wallet is definitely safe; the second is that our team members are all in a distributed office, and there is no such thing as a private key cannot be found . I hope you will not have unnecessary worries. Thank you very much for your patience and support. We will resume service as soon as possible!
The following are free questions from users, and Dr. Cao also made a clear reply
1) Will contract trading liquidate due to this event?
Dr. Cao Jing: The duration of the self-maintenance window is different. There are generally two standard practices on BitMax: one is to cancel the order, and the other is not to cancel the order. We will come up with a plan for the specific situation and announce it to everyone before the service is restored. Regarding the worries about liquidation, this situation should not occur in the first few minutes of our opening, because we have closed the service of liquidation during this period. This should be a relatively standard operation process.
2) Why did other exchanges recover so quickly after the AWS accident?
Dr. Cao Jing: Let me explain to you that the problems of other exchanges are generally server, network delay, or large-scale instability of AWS-these are purely technical problems that are easier to solve. And ours is the problem of account abnormality, which requires layers of approval, so it involves the other party’s compliance team, legal team, business team, etc., which need to submit a lot of information, and there are layers of procedures. Just like everyone goes to a bank to open an account or a government agency to do business, the efficiency will probably not be very high because of the processing process. We are also very grateful that the AWS team will work with us to advance this matter on the weekend, but in fact, it does take longer.
The reason for the specific account exception involves the name of the third-party supplier, which is still inconvenient to disclose at the problem handling stage, so please understand.
Finally, I will give you a dim sum. I also understand that this time period is more sensitive. Everyone will be worried about the little troubles of centralized exchanges. After all, this is a very innovative industry. Faced with many opportunities, it will also face many unusual challenges. Thank you for your continued support to BitMax. In addition, as far as this time point is concerned, everyone may be a little bit sensitive. We understand this very well. Thank you for your trust in us. I also kindly ask you to give us some time to deal with the problem. My team and I will always answer your questions in the official BitMax community. Whether you have any questions @我和队, or ask customer service in the group, we will always be online. Thank you for your trust and support. Thank you for giving us. The time for the team to deal with the problem.
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