Bitcoin Accidentally Displays at $26, CloudFlare the Culprit
The CDN was down for around 20 minutes on Tuesday, causing disruption to multiple crypto exchanges.
Bitcoin was showing as trading at US$26 for a few minutes earlier today. At around 10am Eastern US time systems such as CoinDesk were unable to show accurate Bitcoin data. The data failure was due to a system problem with CloudFlare.
CloudFlare is a Content Delivery Network (CDN), that is supposed to mitigate security issues. A tweet from the company said the “CloudFlare outage caused by bad software deploy,” and a further tweet said, “we are already working on improving the update process for high impact incidents.”
As well as inaccurate data displaying on the CoinDesk widget, Poloniex Exchange also went down. The issues seem to be fixed across the board, but has led some to question the reliance of the internet on a small number of service providers.