Paradex caused liquidation due to database maintenance errors, refunding $650,000 to 200 users

PANews January 24 News, Paradex released a report on the maintenance vulnerability incident on January 19 that triggered a liquidation event, and will refund $650,000 to 200 users. Paradex had planned a 30-minute database upgrade maintenance, but encountered unexpected issues during the process. During critical data operations, a race condition occurred during service restart, causing corrupted data to be persisted to the cloud and published to Paradex Chain. As a result, the funds index of some markets was reset to 0, leading to abnormal profit and loss and triggering liquidations in multiple markets. Paradex temporarily shut down platform access, canceled all open orders except take-profit and stop-loss orders, and rolled back the blockchain to the snapshot taken before the maintenance window began. Earlier reports indicated that Paradex was temporarily fully unavailable due to a database maintenance rollback of the chain state.