Dear Users,
Regarding the K-line anomalies and execution delays affecting the ETH/USDT trading pair between 00:00—01:08 (UTC+8) on March 5, 2025, we once again extend our sincere apologies to all affected users.
Incident Cause
Between 00:00—01:08 (UTC+8) on March 5, 2025, some WEEX trading servers experienced excessive memory pressure, leading to anomalies that specifically affected the ETH/USDT trading pair (other pairs such as BTC and SOL remained unaffected).
The root cause was an excessive number of trading pairs deployed on a particular node. During settlement, the node had to simultaneously process funding rate calculations for all pairs within one second, causing a sudden spike in memory usage and triggering the issue.
Response & Resolution
- WEEX identified the root cause within 15 minutes, fully resolved the issue in 25 minutes, and issued a public statement with a 100% full compensation commitment within 45 minutes.
- To protect user wealth, WEEX activated the 1,000 BTC Protection Fund, allocating 10 million USDT as the first batch of compensation funds, even before confirming the full impact.
Compensation Progress
Based on current assessments, the initial 10 million USDT allocated for compensation is sufficient to
fully cover all affected user losses.
As of March 5, 11:00 (UTC+8) , 2025:
- 1,821 compensation requests have been received.
- 1,807 users have been fully compensated, totaling 2,019,009 USDT.
- Remaining requests are being processed with high priority and will be settled as soon as possible.
Technical Review & Optimization
Following the incident, WEEX swiftly optimized the funding rate settlement logic by implementing staggered settlement processing. Additionally, node expansion and sharding have been applied to distribute trading pairs more evenly across nodes. A comprehensive review has also been conducted to identify and address similar potential weaknesses.
Additional User Compensation
To express our gratitude for the support of our users, WEEX will provide additional compensation to affected users on top of full reimbursement:
- 1 million WXT tokens
- 1 million USDT Futures Bonuses
Additionally, newly registered users who sign up before March 8, 23:59 (UTC+8) will also share an extra 1 million WXT tokens and 1 million USDT Futures Bonuses.
WEEX remains committed to a user-first approach, continuously investing in technical improvements to ensure the highest level of security and stability in trading. We appreciate your trust and support, and we will continue striving to provide a safer and more seamless trading experience for all users worldwide.
Thank you for your support of WEEX!
WEEX Team
March 5, 2025
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