India’s largest crypto exchange by trading volume, WazirX, has been struggling to meet the skyrocketing demand for Dogecoin (DOGE). Global DOGE trading volumes tripled between May 3 and 5 to over $42 billion.
According to WazirX Founder and CEO Nischal Shetty, it caused the exchange’s systems to crash because the surging volumes were wrongly perceived as a cyberattack.
“On May 4, one of our systems—on detecting high traffic—wrongly marked it as bad traffic and started blocking the requests,” he said. “It was good traffic, and this error caused our users to have intermittent access to the app.”