AWS Outage Disrupts Major Exchanges Like Binance, Kucoin, MEXC and More

A major AWS outage on April 15 caused connectivity issues that disrupted centralized crypto exchanges (CEXs), affecting at least 12 AWS services. Binance and Kucoin temporarily halted their withdrawals as they faced technical issues with their cloud service provider Amazon Web Services (AWS). 

Binance team reassured that they are working closely with AWS to resolve this as quickly as possible. Binance in the next post shared that most services are coming back online, and withdrawals are open again. However, users still faced problems trading on both Binance and KuCoin, as shared in multiple X posts. The exchange noted that some features may still be a bit slow as the system fully recovers. The team says they’re keeping a close watch to make sure everything runs smoothly. 

MEXC Also Reports Interruptions

Major exchanges like Kucoin and MEXC also reported service interruptions. MEXC users faced problems like abnormal candlestick charts, failed order cancellations, and asset transfer delays, but the exchange said funds are safe. There was no effect on Futures trading. The exchange also shared that a compensation plan will be prepared to reimburse the affected users who have incurred any losses due to the platform related issue. The exchange’s customer support system was also affected.

At least eight crypto platforms were affected by the AWS outage, including Coinstore, Gate.io, and DeBank.

Besides, crypto tools Rabby Wallet and DeBank  were also down due to the AWS outage which left users unable to access their services. Both the teams assured users that their assets are safe and they are actively working to restore the access as soon as AWS resolves the issue. 

“We are seeing initial signs of recovery but continue to monitor and work toward full recovery. Other AWS services are also impacted by this issue, and are also observing recovery. We will provide another update within the next 30-60 minutes,” AWS shared in a recent update. 

Risks of Centralized Crypto Exchanges

Notably, many companies rely on AWS to host websites, run apps and story data. So when it goes down, a lot of services get hit.The AWS outage highlights the vulnerability of centralized crypto exchanges that rely on a single cloud infrastructure provider. Major exchanges like Coinbase, Crypto.com, Huobi, BitMEX, and Kraken use AWS, and this disruption shows how a single failure can impact multiple platforms.

Bitget CEO Gracy Chen reassured the users over the outage and also emphasized that this serves as a reminder to consider decentralized cloud services as an alternative.