On March 21, 2025, Paradex, a leading cryptocurrency derivatives exchange, experienced a significant service outage, disrupting operations and forcing the cancellation of all open orders. The outage affected the user interface, cloud infrastructure, and core blockchain systems, leaving traders unable to access accounts or live market data. Paradex engineers are investigating the root cause while working to restore services. The incident underscores the challenges faced by centralized exchanges in maintaining reliable trading environments. The forced cancellation of orders, a standard safety measure, prevented financial discrepancies but frustrated traders who were unable to manage leveraged positions or capitalize on arbitrage opportunities. This event highlights the complex interdependencies within crypto trading platforms and raises questions about systemic resilience. The Paradex outage reflects a broader industry pattern of technical failures during high market activity, prompting comparisons with decentralized exchanges that avoid central points of failure but face other issues like network congestion. As regulatory scrutiny intensifies, exchanges must enhance infrastructure resilience to maintain market trust and comply with emerging operational standards.