Arbitrum Suffers Brief Outage After Surge in Network Traffic
• Arbitrum (ETH layer-2 scaling solution) suffered major outage due to surge in traffic • Outage lasted from 729am - 857am PST on Friday • Caused by sustained influx of transactions that stalled the sequencer • ARB token down 6%+ in last 24 hours, about double overall crypto market drop • Currently 4th in total value locked (TVL) at $2.345 billion