Ethan

Incident Post-Mortem - Jan 19 What happened On Jan 19, a planned 30-minute maintenance window to upgrade our database (to support growing demand) encountered unexpected issues during the scale-up process. A race condition during a service restart, while critical data operations were in progress, caused a corrupted state to be persisted in the cloud and published to Paradex Chain. As a result, some markets reset the funding index to 0, creating abnormal funding PnL that triggered liquidations across multiple markets. Immediate response Given the breadth of impact across users and markets, we determined the most appropriate course of action was to revert to a known healthy state from before the maintenance window began. In prior incidents, the impact was sufficiently localized to resolve with targeted remediation; that was not possible here. We disabled access to Paradex and initiated rollback procedures to restore chain state to the pre-maintenance snapshot. We also cancelled all open orders (excluding TP/SL orders) to support a controlled recovery process. During the post-only period prior to full reopening, a small number of aggressive orders were placed on the book, which skewed the mark price and led to additional liquidations primarily on PAXG. This was limited to a few users. Resolution Within 24 hours, we audited all accounts impacted by incorrect liquidations (and other residual issues) and refunded $650,000 across 200 accounts from the Liquidator Vault. All residual data inconsistency issues on the Portfolio and Vault pages are expected to be resolved by Monday, Jan 26. Following the incident, we have implemented: + Enhanced service restart procedures + Additional data validation safeguards + A revised scale-up process for full-downtime maintenance periods + Post-only period price band protection Final notes This incident marked Paradex Chain’s first rollback. It was an undesired but necessary action to protect users and restore network integrity, and we are taking steps to ensure it does not happen again. The direct impact was contained to 200 accounts and $650,000 in refunds. The changes implemented since then strengthen our ability to operate safely as the system scales. Throughout the incident, we provided ongoing updates via Discord and our status page, even as coordinated FUD campaigns on X emerged within hours. This is proof that we're becoming a formidable competitor in this space. Thank you to everyone who supported the platform during rollback and recovery. Your trust in difficult moments is what drives us to build better every day. Paradexio

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