Aptos, the Blockchain created by former Meta employees, experienced an unexpected outage that left users and cryptocurrency exchanges in suspense for more than 5 hours.
The stoppage of on-chain transactions occurred on October 18, right in the middle of the first anniversary celebrations of this Layer 1 platform, which promises fast, secure and scalable transactions.
The outage of Aptos, which typically processes blocks in a matter of seconds, surprised the cryptocurrency community.
Binance and other exchanges were forced to temporarily suspend deposits and withdrawals of APT, the native Aptos token, while the development team worked tirelessly to resolve the issue.
Despite the severity of the incident, the Aptos team approached the situation with humor, telling users that they were working to restore the network and asking for patience.
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.
— Aptos (@Aptos_Network) October 19, 2023
The interruption came in the middle of Aptos’ first anniversary celebration
The Aptos Foundation had launched a community drawing platform called Graffio.art for Aptos wallet users to contribute to the creation of a collective work. Before the outage, around 4,000 users were online.
Aptos Labs, run by former Meta employees who had worked on Facebook’s now-discontinued cryptocurrency project Diem, founded Aptos in October 2022. The platform has been touted as an ideal home for Web3, offering efficient and secure transactions through of its Move programming language.
After more than five hours of interruption, the Aptos team finally managed to resolve the problem and the network returned to normal operation, although with some delays in transactions, they immediately communicated it through their X account, following the thread with something in the mood.
Party on, Aptos. We’re back.https://t.co/CV5G5MyAZQ pic.twitter.com/YxFJBQAgbR
— Aptos (@Aptos_Network) October 19, 2023
Brief Fall and Modest Recovery
Aptos’ native currency, APT, saw a price drop during the outage but largely recovered. At the time of writing, APT is trading at $5.01, up a modest 0.52% in the last 24 hours, according to data from CoinMarketCap.
APT is currently -40.25% from its highs, in the area of USD $18.2 during January of this 2023.
But in these last 7 days it has seen an accumulation of advance of 3.96%. USD $4.76 having been one of the minimum trading zones mainly during the 11th and 12th of this month of October 2023.
The cryptocurrency community and Aptos investors breathed a sigh of relief this morning as the network was restored, allowing operations to resume as normal.
The disruption in Aptos serves as a reminder of the importance of blockchain stability and resilience in the crypto space, as well as an example of proper community management to address these cases.
Despite occasional challenges, the community and its development team demonstrated their commitment to the project, suggesting that the platform continues to make progress in its goal of providing a reliable and efficient Web3 experience.
