Crypto traders woke up to some unexpected turbulence on Tuesday as Binance and KuCoin reported service issues linked to a major outage at Amazon Web Services (AWS). The disruption caused temporary problems for users, particularly with trading and withdrawals.
What happened?
Binance, one of the biggest crypto exchanges in the world, shared on X (formerly Twitter) that some of its services were impacted by a “temporary network interruption” in AWS’s data center. While not everyone was affected, many users experienced failed trade orders and blocked withdrawals.
“Some orders are still successful, but some are failing,” Binance said. “If users failed, they may keep retrying.”
To play it safe, Binance temporarily paused withdrawals, saying the decision was made to protect users’ funds. Fortunately, by the time of their latest update, most services were back up and running, and withdrawals had been reopened. The Binance team is continuing to monitor the situation closely.
KuCoin also affected
KuCoin, another major crypto exchange, confirmed it was facing similar issues due to the AWS outage. The company posted a notice saying its platform was dealing with “temporary disruptions” but reassured users that their funds and data were safe. KuCoin’s technical team is working on resolving the issue.
No word yet on full impact
Neither platform disclosed exactly how many users were affected, and AWS hasn’t released a detailed statement about the cause of the outage. However, both exchanges emphasized that user funds remain secure, and operations are gradually returning to normal.
