WEEX Exchange Resolves ETH/USDT Glitch with Swift Action and Generous Compensation

On March 5th, the WEEX exchange platform encountered an anomaly in the ETH/USDT trading pair, resulting in abnormal candlestick behavior and execution delays. The issue was traced back to a significant number of trading pairs being deployed on some nodes of the trading server. During the fund fee settlement, nodes were required to process fund fee calculations for all trading pairs simultaneously within one second, leading to a sudden increase in memory usage and triggering the anomaly.

In response to the incident, WEEX promptly optimized the fund fee settlement logic and implemented staggered settlement processing. The platform also upgraded and sharded the nodes to distribute the load of a single node across multiple trading pairs. A thorough investigation was conducted to identify and address similar weaknesses in the system.

Following the incident, WEEX completed the problem identification within 15 minutes and performed the necessary fixes within 25 minutes. An announcement was issued within 45 minutes, committing to 100% full compensation for affected users. The initial compensation funds of 10 million USDT were disbursed promptly.

In addition to full compensation, WEEX announced an additional airdrop of 1 million WXT and 1 million USDT in trial funds to affected users and newly registered trading users before 23:59 on March 8th. This move was aimed at mitigating the impact of the incident and providing additional support to the trading community.

Furthermore, WEEX launched the "ETH 8U Purchase" event with a total prize pool of 88 ETH. New users who deposited 8 U or more by March 9th, 23:59, and existing users who had trading records on March 4th-5th and whose daily contract trading volume was 5,000 USDT or more during the event period, had the opportunity to share 11 ETH daily through random distribution. This event was designed to engage the trading community and provide additional incentives for participation.