Bitcoin News and Finance
Avalanche Web Wallet Stalls For 6 Hours After Avalaunch Airdrop Snapshot Skip to main content

Avalanche Web Wallet Stalls For 6 Hours After Avalaunch Airdrop Snapshot

Avalanche Web Wallet Stalls For 6 Hours After Avalaunch Airdrop Snapshot

The Avalanche cryptocurrency, the first cryptocurrency ever to implement the Avalanche consensus, experienced an outage of service yesterday when its web wallet presented an outage that lasted for six hours. This was the consequence of severe congestion due to an airdrop carried out by AvaLaunch, leaving users without control of their funds for this period.

Avalanche Web Wallet Stalls After Avalaunch Airdrop

The Avalanche Web Web Wallet, the official wallet for the AVAX cryptocurrency, experienced an outage yesterday that left customers without control of their tokens for six hours. According to official reports taken from status.avax.network, the page that monitors the state of every component of the Avalanche network, the outage started at 18:05 UTC, when web wallet nodes started experiencing a sharp uptick in API traffic.

After some users complained about not being able to see access funds in the wallet, it was taken into maintenance mode at 18:4 UTC due to:

degraded performance for some users accessing the API nodes directly (api.avax.network) and for users accessing the API nodes indirectly (through wallet.avax.network).

The issue is believed to have been caused by an airdrop carried out by Avalaunch, a launchpad for tokens in the Avalanche network that would deliver XAVA (its official token) to validators and delegators staking AVAX. The team announced the time for the airdrop snapshot in advance on a medium article, hat caused users to hurry up to stake or validate tokens to be also part of the giveaway, derivating in these issues.

In another cryptocurrency environment, the failure of a single wallet is not a cause for concern, since there is a myriad of options for uses to manage their funds at any given time. However, the Avalanche blockchain relies only on this web wallet to serve the totality of its users, and while some other wallets have been proposed, there are still no usable alternatives at the moment.

The incident was resolved on May 4, 02:29 UTC when the wallet team implemented a fix and rolled it out progressively. In spite of this fix, Binance has halted withdrawals for the currency at the time of writing.

Not the First Bump in the Road

This has not been the first problem that has affected the Avalanche network in a significant way. Back in February, part of the network was practically halted due to a heavy load on the systems managing a cross-chain bridge when the Pangolin exchange, the first decentralized exchange on the blockchain, was launched.

The bug triggered an invalid mint of tokens in one of the chains and prevented users from accessing and transacting their funds for more than 30 hours.

What do you think about the problems with the Avalanche Web Wallet? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory