Chaos in the Cloud: Binance and KuCoin Disrupted by Mysterious Amazon Outage

Binance, one of the largest cryptocurrency exchanges in the world, temporarily paused withdrawals due to technical difficulties related to its cloud service provider, Amazon Web Services (AWS). The exchange reported the issue on social media, revealing that a network disruption at an AWS data center was impacting various services on its platform.

Binance acknowledged that not all users were affected by the outage. Some users continued to complete their trades, while others faced failed transactions. The exchange advised affected users to try retrying their failed transactions in hopes of successful execution.

Cause of the Outage and Response

While Binance did not provide certain information regarding the cause of the outage, the exchange did confirm that it was in close communication with AWS to rectify the issue as soon as possible. To reduce the risk of potential danger to its users during the technical glitch, Binance halted temporary withdrawals. The exchange highlighted the safety of the users during such technical disruptions.

The exchange indicated that it was closely following the situation and was committed to restoring normal operations as quickly as possible. Binance also assured its users that services were slowly getting back online, with withdrawals officially resuming. Even though the temporary suspension, the exchange thanked its users for their understanding and patience.

Update on the Situation

As of the latest update, Binance confirmed that most services had started to recover and resume normal functioning. The company reassured its users that it was monitoring all systems closely to ensure that no further disruptions occurred. Binance also emphasized that it would continue to keep users informed about the progress of the situation.

KuCoin Also Experiences Disruptions Due to AWS Outage

KuCoin, another major cryptocurrency exchange, also experienced disruptions associated with the same AWS network outage that affected Binance. The exchange announced on social media, alerting its users that it was experiencing temporary service interruptions due to a “large-scale network outage” at AWS.

Just like Binance, KuCoin also assured its users that their assets were safe and no data was leaked. The technical team of the exchange was working around the clock to return to normal operations as soon as possible. KuCoin also assured its customers that it was doing everything to address the situation and minimize any possible effect on users’ experience.

Conclusion

Both Binance and KuCoin saw momentary disruptions with the network breakdown on AWS causing stoppages in withdrawals and trading complications for users. Both exchanges told their users that assets were still safe and assured them that technical teams were engaged to clear up the situation promptly. Up until now, withdrawals have restarted and services are restoring gradually. Both sites are dedicated to reducing the effects of such outages on their visitors and will continue to keep a close eye on the situation.