Paradex said a planned database upgrade briefly corrupted funding data, prompting a chain rollback and refunds after unintended liquidations across multiple markets.
Onchain derivatives platform Paradex refunded $650,000 to about 200 users after a maintenance-related software error triggered unintended liquidations across multiple markets.
According to a Friday post-mortem shared on X by Paradex, the incident occurred during a planned 30-minute database upgrade on Monday, when a “race condition” caused corrupted market data to be written onchain. Paradex said the issue was operational and not the result of a hack or security breach.
In response, Paradex temporarily disabled access to the platform, canceled all open orders except take-profit and stop-loss orders, and rolled back the chain to a snapshot taken before the maintenance window began.
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