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WazirX Server Crashed During Bitcoin Dip and Indian Crypto-traders Were Up With Memes

Image posted on Twitter by @gautammanik.

Image posted on Twitter by @gautammanik.

Along with the slump in crypto prices, WazirX, one of India’s largest cryptocurrency trading platform also crashed for about an hour following Bitcoin down surge.

Bitcoin, Ethereum and most other cryptocurrencies witnessed a drop late on Wednesday. Along with the slump in crypto prices, WazirX, one of India’s largest cryptocurrency trading platform also crashed for about an hour following Bitcoin down surge which declined almost 30 percent to $31,000, wiping out more than $500 billion in value from the coin’s peak market value. With the trading platform crash, people took to Twitter and complained about wrong valves of coins, payment issues, exchange issues and app issues. At 7:37 hours, bitcoin was trading at $37,886.71, down 8.42% on Coindesk. It touched an intraday high of $41,213.74 and an intraday low of $30,201.96. Meanwhile, the trading app said that they are investigating the issue and working on a fix.

The website took to the microblogging website and wrote: “Reports of delays in app. We’ve received reports that you’re facing delays in trading, viewing order book and trade history on WazirX app and website. We’re investigating the issue and working on a fix. We’ll update you as soon as it’s done. Thank you for your support!"

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Indian crypto Twitter, however, was not happy.

On May 4 too, WazirX crashed for about an hour due to a spike in Dogecoin’s price, resulting in frenzied trading. Apart from WazirX, Crypto-exchange Coinbase too was down or some users Wednesday morning as digital coins plunged. However, the firm said in a tweet that they have put a fix in place and are monitoring the results.

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first published:May 20, 2021, 09:18 IST