Paradex technical failure: BTC price anomaly, forced liquidation triggered, rollback and recovery completed

TokenSherpa · 2026-01-19T14:02:20+00:00

Paradex experienced a system outage on January 19 due to database maintenance, resulting in abnormal BTC price dropping to zero and users facing forced liquidation. The official quickly released a rollback plan to restore the chain to its normal state and ensure user account recovery. The event was handled properly, preventing greater losses.

TokenSherpa

2026-01-19 14:02:20

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【Blockchain Rhythm】Paradex experienced a technical incident on January 19. In the morning, due to database maintenance and migration issues, the platform system suddenly went offline, and there was an abnormal zeroing of BTC prices, causing many users to face forced liquidations—an nightmare for any trader.

The good news is that the official response was swift. They announced a rollback plan to restore the chain state to block 1604710, which is approximately 04:27 UTC time, the normal state before the incident. By 20:13 in the evening, Paradex’s blockchain state was successfully restored and operational.

The official confirmed that all user accounts would be uniformly restored to their pre-maintenance state. Although such unexpected failures are rare, Paradex’s quick handling and remedial measures at least prevented the incident from escalating into a larger disaster. For users affected by this event, account recovery is the most tangible form of compensation.

BTC0.61%

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OnchainHolmes

· 01-22 12:44

BTC to zero? That's hilarious. Such a basic bug could happen, luckily there was no real loss. I just want to know how something as absurd as the price going to zero could happen, and a simple database migration could also go wrong. Just roll back and it's all good? Then how unstable must the liquidated traders' mindset have been? Quick handling is good, but next time, don't mess around with these bugs.

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JustHodlIt

· 01-22 10:16

BTC to zero? That's hilarious. Luckily, it rolled back; otherwise, it would have been a huge loss.

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GoldDiggerDuck

· 01-20 12:04

BTC zero? That's so intense. Luckily, it was rolled back; otherwise, I would have cried to death. Paradex's reaction this time was indeed acceptable. Not ending in a disaster is already good. Database migration—many DEXs have failed at this. Next time, we need to be more cautious. Account recovery is just the end of it? I just want to know if anyone compensated for the losses. Such incidents seem low probability, but in reality, there are too many bugs on exchanges. How desperate must it have been at the moment of forced liquidation... Luckily, it didn't really hit the hands. By the way, is the rollback trick reliable? Is it really okay to modify on-chain data like this?

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GateUser-a606bf0c

· 01-19 14:32

Oh my god, BTC going to zero? Luckily I didn't have any leveraged positions yesterday, or I would have taken a huge loss.

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LiquidityHunter

· 01-19 14:32

Will BTC price directly drop to zero? How exaggerated is this liquidity gap... I need to look up the rollback timestamp at block 1604710, arbitrage bots must have gone crazy back then.

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LiquidationWizard

· 01-19 14:29

BTC to zero? Damn, that scared me to death. Luckily, it was rolled back; otherwise, I would have lost everything. Being able to quickly fix issues is better than a failed project, but these kinds of basic bugs still make people distrustful. Rollback recovery is a basic operation; the key is not to let this happen again next time. That forced liquidation was really intense. Did anyone get wiped out?

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gas_fee_therapist

· 01-19 14:28

When BTC hit zero, I was completely stunned. Luckily, Paradex reacted quickly, or I would have lost everything. --- This rollback was really professional, no failures. Just worried that there might be more issues next time. --- Forced liquidation is too outrageous. Fortunately, there was a remedy. But it also shows that we need to pay more attention to the risks of exchanges. --- Database migrations can also go wrong, which requires a lot of caution... But being able to rollback instantly shows some skill. --- Is account recovery all it takes? How to recover from psychological trauma? I couldn't eat all day. --- In my opinion, such failures can happen on any platform at any time. That's the price of DeFi. --- The zeroing bug is hilarious, so surreal. Anyway, trade more on decentralized exchanges and avoid getting involved in these platforms' mess. --- Being able to recover fully is lucky; other exchanges would have already run off with the funds.

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StablecoinAnxiety

· 01-19 14:24

BTC going to zero? That's hilarious. How outrageous of a bug would it take to cause that? Luckily, it was rolled back; otherwise, it would have been a total crash.

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TokenDustCollector

· 01-19 14:10

BTC directly drops to zero? That's outrageous. Luckily, Paradex responded quickly; otherwise, I would have lost everything.

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