Arbitrum L2 core network crash.
The leading network of the Arbitrum Layer 2 scaling solution crashed. The project team reported an error in the Sequencer smart contract that caused the protocol to stop releasing new blocks. The developers guaranteed the safety of user funds.
The last block at the time of writing (# 4509808) on the Arbitrum network was generated for more than five hours.
We are currently experiencing Sequencer downtime. Thank you for your patience as we work to restore it. All funds in the system are safe, and we will post updates here.
— Arbitrum (@arbitrum) January 9, 2022
Arbitrum network is suspected to be down, no new blocks have been generated for more than two 5h, and the Metamask cannot connect. Arbitrum said in discord: we are aware of some issues with the network. We are investigating and will post an update.
The Sequencer smart contract has limited control over the order of transactions, so user transactions are recorded immediately before confirmation by the Ethereum blockchain. The transfer of funds through this contract is optional; network clients can bypass it. The developers said because of this problem; no one can steal funds or falsify transactions because every operation it processes has a user’s digital signature, which is verified in L2. They also warned of possible re-crashes as Arbitrum One is still in beta.
“Earlier today, we experienced Sequencer downtime, which made the Arbitrum One network temporarily unavailable.”
The team later confirmed that the problem was resolved:
“The issue has now been fully resolved, and the Arbitrum Sequencer, as well as all public RPC nodes, are fully operational.”
In September 2021, Arbitrum experienced a 45-minute outage. Then the leading cause of the incident was the Sequencer bug, which received a massive batch of transactions in a short time.
Recall that on January 6, the Solana developers reported a decrease in the performance of the beta version of the main net and warned users about possible errors in transaction processing.