Paribu, one of Turkey’s largest cryptocurrency exchanges, has been down for hours, preventing users from trading. This situation is particularly frustrating for users during a period of market volatility, sparking widespread curiosity about the issues at hand.
Why is Paribu Exchange Not Operational?
Users have been unable to trade since midday. In a statement from the Paribu Support account, it was mentioned that “an unplanned maintenance operation is being conducted for cryptocurrency trading.” Users were encouraged to monitor the situation via the status page.
During this time, Bitcoin 
$75,023 has experienced significant fluctuations, with many altcoins seeing double-digit volatility. Such service interruptions during major market movements can lead to substantial losses for users.
According to the status page, the issue was detected at 16:11, prompting the technical team to begin investigations. By 20:03, an update was released regarding the ongoing technical issues.
“Dear Users, the maintenance work due to a technical malfunction has taken longer than expected. The source of the technical issue has been identified, and our teams are continuing their efforts to resolve it. Thank you for your understanding.”
An announcement at 16:54 indicated that maintenance was expected to be completed by 17:30. However, a later update revealed that the downtime extended far beyond the initial estimate.
Users on X (formerly Twitter) have expressed their dissatisfaction with the frequent service interruptions during volatile periods.
Allegations Regarding Customer Assets and Staking
The latest regulatory update aimed to prevent exchanges from making decisions regarding customer assets. However, investigations by the account 0xastronomica indicate that two months ago, 70% of Ethereum 
$2,346 assets on Paribu were staked with validators, which could yield approximately 5% annual income for the exchange. Local exchanges lack staking services, suggesting these actions may not directly involve customer assets.
“I haven’t been able to trade on Paribu for about three hours due to unplanned maintenance. It seems there hasn’t been a hack, but I encountered something strange. Two months ago, it appears that 70% of the ETH on Paribu was staked with validators. Is it appropriate to generate annual profits of 5% using user funds? Or are these funds owned by Paribu itself? I hope this will be clarified.” – 0xastronomica
