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Is Cloudflare affecting crypto exchanges?

A Cloudflare outage on Tuesday knocked out numerous popular web services, including major crypto exchanges FTX, Bitfinex and OKX, raising questions about the security of centralized crypto platforms.

What happened to Cloudflare?

Many services affected by the Cloudflare incident were back online within two hours. The scale of losses caused by the outage is still unclear but a dvocates of decentralization have long warned of the risk of keeping one’s funds on centralized crypto exchanges, which act as escrows for customers and tout their more user-friendly features.

What is Cloudflare ETH?

Similar to our IPFS gateway, cloudflare-eth.com is an SSL for SaaS provider. This means that anyone can set up the Cloudflare Ethereum gateway as a backend for access to the Ethereum network through their own registered domains.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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