Paradex was liquidated due to a database maintenance error, and refunded $650,000 to 200 users.

PANews reported on January 24 that Paradex released a report on the liquidation incident triggered by a maintenance vulnerability on January 19, and will refund $650,000 to 200 users.

Paradex had planned a 30-minute database upgrade and maintenance, but encountered unexpected problems during the process. During critical data operations, a race condition occurred during a service restart, causing corrupted data to be persisted to the cloud and published to the Paradex Chain. As a result, the funding index in some markets was reset to 0, causing abnormal profit and loss and triggering liquidations in multiple markets. Paradex temporarily closed access to the platform, canceled all open orders except for take-profit and stop-loss orders, and rolled back the blockchain to a snapshot taken before the maintenance window began.

Previously, it was reported that Paradex was temporarily unavailable due to database maintenance and rollback chain status.