Trading services on Binance, the world’s largest crypto exchange, are up and running again after a problem with Amazon’s cloud computing platform forced the exchange to briefly pause withdrawals early on Tuesday.
“All services are starting to recover and resume,” Binance wrote in a post on X on Tuesday, “Withdrawals have also been reopened.”
A spokesperson for AWS told Coins2Day, “The issue has been resolved and the service is operating normally.”
The brief pause of withdrawals was the result of a “temporary interruption” in an Amazon Web Services (AWS) data center, Binance said in a post on X. Customers were unable to take out money from their accounts for nine minutes as the AWS issue disrupted some trading orders on the exchange, the company said.
“Some orders are still successful, but some are failing,” Binance wrote on X. Shortly after discovering the issue, the company suspended its withdrawal services “To keep safe.”
Binance did not immediately respond to a request for comment from Coins2Day.
Binance was not the only crypto exchange impacted by the outage. Customers of KuCoin, a Seychelles-based crypto exchange, reported on X that they were unable to access the exchange’s website early on Tuesday morning.
“KuCoin experienced a brief service disruption earlier today due to an unexpected outage at our cloud service provider, AWS,” KuCoin’s CEO BC Wong told Coins2Day. “All features—deposits, withdrawals, and trading—are now fully back online. At no point were user funds at risk, and all data remains fully intact.”
Cloud computing companies like AWS play an integral role in letting web-based businesses operate without having to maintain their own servers. AWS allows companies like crypto exchanges, streaming services and e-commerce websites to outsource their computing power needs to one of Amazon’s over 200 global data centers. These data centers house fleets of computer servers that manage, store, and process data on behalf of web-based companies. AWS directly competes with other cloud computing companies like Microsoft Azure and Google Cloud.
Cloud computing outages are not unheard of. Last summer, an issue with cybersecurity company CrowdStrike suddenly disrupted a number of Microsoft’s services, including Microsoft Azure. The issues caused by the outage lasted for days and impacted airlines, banks and emergency services.
