To update: As of April 7, 2021, 18:28 UTC, according to the Stellar website, the SDF horizon service was restored and the SDF validators went online again.
Some of the nodes used to validate transactions on the Stellar Lumens blockchain went offline on Tuesday. According to reports, exchanges caused withdrawals to stop because certain transactions failed even when others succeeded.
Anton Cashchin, managing partner at CEX Exchange in the UK, was alarmed when he tweeted that “multiple validators” went offline, causing Binance, Bitfinex and Bitstamp to stop withdrawals.
Cashchin claimed the outage disrupted transactions and exchange withdrawals, despite Stellar issuing a statement that “the Stellar network is still online and transactions are still being processed.”
“At around 1:00 am PDT, the Stellar Development Foundation’s validator nodes and the SDF’s public Horizon API instance went offline. The SDF engineering team is working to determine the cause and fix the problem. It also works with all Tier 1 validators on the network, ”says Stellar’s blog.
According to public data from block explorer Stellar Expert, the network is still processing transactions, albeit not at a normal rate. A block that was validated at the time nodes fell off the network indicated more than half of the transactions submitted as failed, but the network appears to have recovered as newly processed blocks do not indicate failed transactions
Stellarbeat takes the pulse of the number of nodes on the network. As of press time, the website showed that currently more than half of Stellar’s normally active nodes are down.
At 6:59 a.m. CET, Bitfinex CTO Paolo Ardoino tweeted that the XLM withdrawals were on hold.
Stellar’s team responded to CoinDesk’s request for comment with its official statement. It has been clarified that XLM transactions are being processed and the network is still active.
Even so, XLM, the coin that underpins the Stellar network, fell from $ 0.58 to $ 0.51 on the news.
This is a developing story and will be updated.
Updated April 6, 2021 17:54 UTC: This article and heading have been updated to include information about failed transactions on the Stellar network.