Following our Curve (CRV) listing on August 14th, we experienced a surge in Ethereum (ETH) and ERC-20 transactions on Poloniex. With a sudden and drastic increase in ETH transactions, our infrastructure became overloaded and resulted in a series of issues with our ETH and ERC-20 wallets and wallet-related infrastructure. This caused customers to begin experiencing extended processing times for deposits and withdrawals.
Our team started manually processing deposits and withdrawals, but given the extreme surge in transactions and high gas fees on the Ethereum network at the time, we were unable to process all transactions while solving the root issues in our wallet infrastructure. We decided to disable our ETH and ERC-20 wallets to perform maintenance so we could focus on solving the root issues and prevent further delays.
We have updated our wallet infrastructure to both fix our overloaded system and enable us to better scale for the future. Before bringing our wallets back online, we spent the time to test our system and ensure we will be able to handle increased usage moving forward. We appreciate your patience as we continue to improve our platform.