Polygon Labs Chief Information Security Officer (CISO) Mudit Gupta has confirmed that the company’s systems and services remain unaffected amid the recent global outage caused by a CrowdStrike update. Despite using CrowdStrike’s cybersecurity solutions, Polygon Labs’ stringent protocols prevented disruption.
Polygon Labs Employ CrowdStrike Services
According to a post on X, Gupta revealed that while Polygon Labs does employ CrowdStrike’s services, the company has a firm policy of not rolling out noncritical updates without thorough testing. This precautionary measure is part of a broader strategy to ensure system integrity and security.
Meanwhile, the CrowdStrike outage has had widespread repercussions across various industries. Crypto experts, in particular, view this incident as a significant wake-up call for industries that still heavily rely on Web2 infrastructure. The outage highlights the vulnerabilities of traditional cybersecurity frameworks and underscores the necessity for robust, well-tested security protocols.
Gupta confirmed that even if Polygon Labs is affected by such an IT incident, it will not impact Polygon networks. Similarly, Bybit stated that it remains unaffected by the recent outage and assures its clients and traders that it is business as usual at Bybit.
Exchanges Experienced System Outage
In May, the Coinbase exchange experienced a system outage that caused significant disruptions for users attempting to trade or access their accounts. However, a few hours into the system outage, the exchange announced it had fully recovered.
Despite the recovery, Coinbase still encountered degraded performance issues, specifically for its mobile application and website. Likewise, Bitfinex, another prominent cryptocurrency exchange successfully resolved an outage that disrupted trading activities temporarily on its platform. The exchange further announced its intention to resume its operations in view-only mode. To compensate for the technical disruption.
Polygon Labs Expands Into Other Ventures
As earlier reported by TheCoinRise, Polygon Labs partnered with Japanese electronic multinational Casio to roll out the virtual version of its product, dubbed G-SHOCK, on the Layer-1 blockchain.
The firm also confirmed that it would discontinue contributions to its Edge framework and redirect its focus toward its Cloud Development Kit (CDK) expansion. Recall that the legal team representing Polygon Labs proposed a framework to classify decentralized finance (DeFi) as “critical infrastructure” overseen by federal cybersecurity agencies in the United States.
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