Amazon Web Services Goes Down Causing Major Disruptions Among Various Crypto Exchanges

One of Amazon’s services is providing cloud service to many firms, especially in the crypto world. On Friday, there were some problems in Amazon’s cloud service, AWS which disrupted the services at some cryptocurrency exchanges.

One of the affected exchanges was Binance which faced problems because of this internationally, and in response to this, Changpeng Zhao, the exchange’s CEO, informed people through a tweet about the issues:

CoinDesk reports that KuCoin also reported issues with their services, and rushed to explain this situation to customers on its website saying that part of its services might become unavailable.

Binance exchange has confirmed that all the customer funds are SAFU and are not exposed to any threats, explained CZ.

Dovey Wan, founding partner at Primitive Ventures also tweeted that several Asian exchanges were affected by the AWS issues which were producing erratic market data. She added a screenshot of the order book data from an unnamed exchange which was posted in BitMax exchange’s official Telegram channel. The shot suggested that traders were able to buy 45 bitcoin for less than $1 even though the price of Bitcoin at that time was around $10,070.

After this information, BitMax announced on their Telegram channel that all withdrawals are halted for the time being. Other sources suggest the screenshot may reflect data from a different exchange.

In similar cases, based on the CITEX exchange’s record book, many people were able to execute trades on Bitcoin for as low as $0.32.

On the other hand, AWS’s page indicated that there were some issues at the Tokyo facility and they were able to figure out the root cause of the problem, and things will be back to normal soon.

Keep it here for more details as they unravel.