Cloudflare Outage Impacts Crypto, Dating, and Shopping Platforms A Cloudflare outage affected several popular platforms such as Shopify, Grindr, Fitbit and some of the largest crypto exchanges.

By Madeline Garfinkle

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Cloudflare, the web performance and security company, experienced a widespread outage around 2:30 a.m. on Tuesday, impacting multiple sites across the web.

"The Cloudflare team is aware of the current service issues and is working to resolve as quickly as possible," the company tweeted around 3 a.m.

Popular platforms that use Cloudflare's technology including Discord, Shopify, Grindr, Fitbit, and Peloton — along with popular crypto exchanges such as FTX, Bitfinex, and OKX — were among the companies affected by the outage.

By 4:08 a.m., Cloudflare tweeted again that the "incident has been resolved."

Still, the outage impact on the crypto space raised concerns regarding the overall security of centralized cryptocurrency platforms, TechCrunch reported.

Related: Crypto Exchange Shuts Down Withdrawals After Hackers Reportedly Steal $33 Million in Bitcoin, Ethereum

When FTX was down, it forced users to trade in a "post-only" mode, meaning an order could only be placed by a "maker" (someone who sets a price to buy or sell).

The incident furthers the debate between centralized versus decentralized exchanges. While centralized exchanges are monitored by regulators, some argue they are more susceptible to hackers due to a larger volume of traders.

Decentralized exchanges —which involve a direct transaction between users — still incorporate risk, but the assets are stored in the self-custodian wallets rather than on an entire platform. The scale of losses in crypto due to the Cloudflare outrage is still unclear.

Madeline Garfinkle

News Writer

Madeline Garfinkle is a News Writer at She is a graduate from Syracuse University, and received an MFA from Columbia University. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Related Topics

Growing a Business

Lifetime Access to Business Advice with This AI-Powered Service is Just $29.99

With Consultio Pro, you'll find expertise on topics like data analysis, financial analysis, innovation management, and so much more.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Woman Goes Viral After Recording Her Disastrous Call With HR After Being Let Go: 'They Tried to Gaslight You'

Brittany Pietsch posted a nine-minute-long clip of her firing from Cloudflare on TikTok, and it went viral. The company's CEO responded on X — and also went viral.

Business News

Here Are 3 Strategies Startup Founders Can Use to Approach High-Impact Disputes

The $7 billion "buy now, pay later" startup Klarna recently faced a public board spat. Here are three strategies to approach conflict within a business.