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Crypto Exchanges Face Downtime as AWS Outage Hits Binance and KuCoin
A recent outage affecting Amazon Web Services (AWS) has caused significant disruptions to multiple cryptocurrency exchanges, including Binance and KuCoin. As a result, users experienced downtime, trade delays, and concerns over the centralization of cloud infrastructure.
The incident began on April 15 when AWS reported an outage, which led to technical difficulties at several major exchanges. These platforms rely heavily on AWS for their operations, making them vulnerable to disruptions. While some services were affected more than others, users of Binance, KuCoin, and other dependent exchanges faced downtime and delays.
According to reports, the affected crypto exchanges include:
* Binance: experienced a temporary halt in trading activities due to issues with its user interface
* KuCoin: was also impacted, although the extent of the disruption is unclear at this time
Other exchanges not mentioned by name were also affected, leading to an overall downturn in trading activity and delays.
In response to the incident, Binance and other affected platforms have provided updates. Binance assured users that their funds are safe and that they would implement a compensation plan for any losses incurred due to the outage.
The incident highlights the vulnerability of the crypto industry’s reliance on centralized cloud infrastructure providers like AWS. In the face of uncertainty, many exchanges will likely reassess their strategies to mitigate the impact of future disruptions.
In light of this, there is an increasing need for decentralized alternatives that prioritize security and transparency.
Source: https://coincentral.com/crypto-exchange-downtime-as-aws-outage-hits-bnb-and-kucoin/
