There was a Cloudflare outage that took place on Tuesday, July 2, 2019 at around 10:00 a.m. Eastern Time, which took down a number of cryptocurrency information and trading sites.
The outage took down sites such as Coinbase and CoinMarketCap, wreaking havoc for nearly 20 minutes as these issues were fixed at around 10:18 a.m., and most of these sites appeared to be running again. Cloudflare is a content delivery network (CDN) provider that first noticed the outage at 9:52 a.m. Eastern Time, leading to these sites being affected soon after.
This led to the CoinDesk widget momentarily displaying a price of $26 per bitcoin, leading to the company noticing the issue and implementing a fix after the outage. Poloniex noticed the outage too and said that no funds were lost due to it, while Itbit said that the front-end web server failed, yet no back-end functions crashed.
Cloudflare is a service that is used by many websites, designed to help speed up delivery of data and media over the internet. During the outage, bitcoin prices were at around $10,000 a unit, yet the fell as far as $9,958 following the issue, according to CoinMarketCap.
“Due to technical issues with our of our partners, Poloniex is currently unavailable for trading,” the Poloniex Twitter account write. “We are working with our partner to resolve these issues as quickly as possible. All funds are safe, and we will keep you updated here.”