Stellar crypto network hit by transaction stoppage, developers say issue is being investigated

The Stellar network has not processed transactions for hours, according to publicly available data.

Multiple block explorers show that the most recent transaction took place some five hours ago. According to an incident report on Stellar’s website, "[c]ertain validators dropped off the network." At 11:45 UTC, the incident page said that developers "continue investigating and testing a potential fix but we’re unable to provide an ETA for a fix at this time."

"[Stellar Development Foundation] engineers are continuing to investigate this incident," the foundation said in its most recent message at 12:42 UTC. 

Crypto exchange Bitstamp said earlier Tuesday that it has temporarily stopped deposits and withdrawals of XLM, Stellar’s native token, in light of the issues.

We’ve temporarily stopped $XLM deposits and withdrawals due to issues on the @StellarOrg network. We are monitoring the situation and will keep you updated," the exchange said in a Twitter post.

This is a developing story and will be updated with new information.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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