NFT Frenzy Overwhelms Arbitrum, Causing 78-Minute Outage
- Arbitrum One network went offline for 78 minutes on Dec 15 due to a surge in network traffic
- Outage was caused by a large number of NFT inscriptions being processed
- Some blocks during the outage only processed 2 transactions each
- Users can withdraw assets to Ethereum while network is down, but takes up to 24 hours
- Network restored after less than 2 hours, but gas fees still abnormally high