The fix implemented by the MS Exchange Online team worked and our service is fully operational again.
The most recent update from Microsoft: "We’re continuing to see steady improvements in service availability for Exchange Online and Microsoft Teams and our broader recovery efforts remain actively underway. Engineers are further refining load balancing measures to accelerate recovery and are methodically addressing the remaining impacted services."
Another update from Microsoft on X: "We've identified a portion of service infrastructure in North America that is not processing traffic as expected. We're working to restore the infrastructure to a healthy state to achieve recovery. More information can be found at https://status.cloud.microsoft or under MO1221364 if accessible."
Microsoft has just published information about the outage on X:
“We’re investigating a potential issue impacting multiple Microsoft 365 services, including Outlook, Microsoft Defender, and Microsoft Purview. Further information can be found in the admin center under MO1221364.”
https://x.com/msft365status/status/2014422298506285161
We are seeing that Canadian customers are also affected by the Microsoft Exchange Online Protection outage.
We are currently investigating an issue causing email delivery delays for customers whose services are located in the United States data centers. The problem appears to stem from degraded performance of Microsoft Exchange Online Protection (EOP).
End users sending emails that receive CodeTwo signatures on the server side (Cloud mode) may experience delivery delays, as Microsoft Exchange Online Protection is not processing these messages in a timely manner. This issue is very likely also affecting other Microsoft 365 users who do not use CodeTwo.
We are actively investigating the problem and checking whether we can force a failover to other instances that are not impacted by the EOP outage.
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