Even cold storage did not stand the heat from the FTX volcano erupting. There was a massive outflow from exchanges to Ledger wallets on Wednesday, which made some users unable to process their withdrawals.
Hardware-based cryptocurrency wallet provider Ledger has experienced some issues due to massive outflows from crypto exchanges amid the FTX bloodbath, according to its chief technology officer.saw a “massive usage” of their platforms and suffered a “few scalability challenges” on Nov. 9, Ledger chief technology officer Charles GuillemetGuillemet reasoned Ledger’s issues by the outcomes of the ongoing crisis of a major global cryptocurrency exchange, FTX.
“After the FTX earthquake, there’s a massive outflow from exchanges to Ledger security and self sovereignty solutions.”reported the wallet issues on Nov. 9 at around 11:00 pm UTC, officially announcing that its hardware wallet interface application Ledger Live was experiencing downgraded server performance.
“Specific issues may vary, including connecting to the My Ledger tab and performing a Genuine Check,” Ledger said in a tweet, adding that the client’s assets were safe.that it fixed the server outage about one hour after detecting the issue. “Our server outage has been resolved and all systems are operational,” Ledger said, adding that their server outage was resolved and all systems were operational.
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