Aptos Resumes Network Activities After Five Hours; OKX and Upbit Temporarily Halt Transactions

Layer 1 blockchain Aptos has announced normalcy to its operations following a five-hour outage that impacted trading activities including a temporary suspension from two exchanges. 

The company disclosed a return to the status quo via a social media post on X (Twitter).

“The issue has since been resolved and the network is operating normally.”

According to AptoScan’s blockchain explorer, transactions came to a surprise halt at block 104621314 on Oct 19, 2023, raising eyebrows from many within the community.

The development team acknowledged the glitch noting that transactions have been impacted but will work diligently to restore network operations.

“Your energy for Aptos One was so electric, you cut the lights! What that means at the moment is that transactions on the network have been impacted. We are working diligently to resolve the issue and will keep you updated upon completion.” 

It is still unknown what led to the incident which took five hours to resolve as some users point to maintenance for the entire network while from the official post on X, several observers opined it might have been caused by a massive surge in network activity.

At press time Aptos (APT) trades at $4.96 recording a 1.06% drop in the last 24 hours and a 19.55% drop in trading volumes in the same period.

Upbit and OKX suspends trading 

The issue has led to two digital asset exchanges, OKX and Upbit temporarily halting network transactions and suspending deposit and withdrawals.

Upbit informed users about the suspension pointing at network maintenance and adding that deposits would resume once the maintenance was concluded. 

OKX made a similar announcement stating that the network will undergo maintenance on Oct 18 and cause a suspension on deposits and withdrawals of APT tokens.

“Deposits and withdrawals will be resumed once we confirm that the network is stable following the maintenance. Please note that there will not be a separate announcement regarding the resumption of these services.” 

The exchange warned users not to make further withdrawals and deposits in the stipulated time frame. However, the company disclosed that trades of APT tokens will not be impacted during the maintenance but there may be risk associated with spot, margin, and derivatives trading 

Anniversary; not as smooth 

Before the incident, Aptos made a birthday post as it was around the time it launched last year.

“It's been a year since Aptos Mainnet burst onto the scene.” 

Aptos is a layer 1 network backed by VC firms and developed by former Meta employees leveraging the Move language to give users faster transactions at a reduced fee.

Recently several networks including Theta and Base have recorded similar incidents before reversing to normal operations.