Amazon Web Services Outage Disrupts Binance, KuCoin Withdrawals: Trading Disruptions Continue
Cryptocurrency exchanges Binance and KuCoin temporarily
halted withdrawals yesterday (Monday) following a reported disruption at Amazon
Web Services (AWS), their cloud service provider, Coindesk reported.
Binance acknowledged the issue in a post on X. “We are aware
of an issue impacting some services on the #Binance platform due to a temporary
network interruption in the AWS data center,” the exchange wrote. It added that
while some user orders were going through, others were failing. Users were
advised to retry failed transactions.
Crypto Platforms Affected by AWS Outage
Binance resumed withdrawals a little over five minutes after
reporting the incident. However, users continued to report problems with
placing trades on both Binance and KuCoin, according to several X posts.
Other platforms were also affected. Rabby, a crypto wallet,
and DeBank, a blockchain analytics tool, each posted on X that their services
were temporarily unavailable.
BREAKING: @binance suspends withdrawals as network issues at AWS data centers cause order failures. pic.twitter.com/KyFRYahg9j
— crypto.news (@cryptodotnews) April 15, 2025
Cloud Disruption Causes Widespread Service Interruptions
The disruption stems from problems at AWS, a major provider
of cloud computing services. Many companies use AWS for hosting websites,
running applications, or storing data. Outages can affect a wide range of
services that depend on this infrastructure.
As of the latest updates, services were gradually resuming,
but some functionality remained limited.
Following the recent AWS disruption, our services have been fully restored.All user funds remain 100% safe, and platform data is fully intact. Deposits, withdrawals, and trading are now operating smoothly.We’re taking steps to further strengthen system resilience and minimize… https://t.co/dwV4UzbSC8
— BC Wong (@BC_KuCoin) April 15, 2025
You may find it interesting at FinanceMagnates.com: Amazon
Reaches $2 Trillion Market Cap: The New Titan of Tech.
AWS Cloud Services: Strengths and Limitations
AWS is a cloud provider known for its scalability, global
reach, and security features. It offers a range of services such as computing,
storage, and AI. However, AWS
faces challenges like complex pricing, vendor lock-in, downtime, and high data
transfer costs.
Recent innovations include serverless computing, AI
integration, and multi-cloud support. Despite these advantages, AWS’s service
structure requires careful consideration of its drawbacks and limitations for
businesses adopting its solutions.
Update: KuCoin confirmed that all services have been fully
restored following the recent AWS disruption. The exchange stated that user
funds are secure, data remains intact, and trading activities have resumed
normal operations.
This article was written by Tareq Sikder at www.financemagnates.com.