Stellar developers have reported network outages due to the disconnection of about half of the Stellar Development Foundation (SDF) nodes. Bitfinex and Bitstamp have suspended deposits and withdrawals of XLM.
Stellar technicians reported that some validators were disabled around 1:00 PDT. The engineers have been working on fixing the problem for about 10 hours. Details and estimated recovery times for Stellar remain unknown.
According to block explorer Stellar Expert, transactions are still being processed on the network, albeit at a slower rate. However, in the last block, more than half of the transactions were unsuccessful. According to Stellarbeat, more than half of the Stellar validators that are usually active are disabled. This problem persists at the time of publication.
Managing partner of the British cryptocurrency exchange CEX Anton Chashchin “sounded the alarm” on Twitter, writing that a Stellar malfunction disrupted transactions with XLM, so the exchange had to suspend XLM withdrawals and deposits in this cryptocurrency. Bitfinex CTO Paolo Ardoino said the marketplace is forced to do the same. Bitstamp made a similar decision. As a result of the Stellar network outage, the XLM rate fell from $ 0.58 to $ 0.48, but later recovered to 0.525.
Stellar developers have reported resolving the incident and running all validators owned by SDF, however many third party validators are still not working. The reasons for the failure remain unknown. Recall that earlier the Solana blockchain was also shut down for several hours due to an unknown error.
