Binance, KuCoin face interruptions due to ‘large-scale outage’ in Amazon’s data center

Cryptocurrency exchanges Binance, KuCoin alerted users about temporary interruptions that may result in partial execution of trading orders.

Binance, one of the world’s largest cryptocurrency exchanges, said it had temporarily paused withdrawals due to technical issues linked to its cloud service provider. In an X post on Tuesday, the trading platform said it’s “aware of an issue impacting some services on the Binance platform due to a temporary network interruption in the AWS data center.”

The company suggested that the outage may not be affecting all users as the interruption may only affect trading activity for some users. “Some orders are still successful, but some are failing. If users failed, they may keep retrying,” the exchange said.

While the nature of the outage wasn’t disclosed, Binance said its team is working with Amazon Web Services to fix the problem. To limit risk during the outage, the exchange said had it decided to suspend withdrawals “to keep safe.”

It’s not clear how many users are affected. As of press time, Binance said that “all services are starting to recover and resume,” adding that withdrawals “have also reopened.”

“We will continue to monitor to ensure that all operations run smoothly. Thank you for your patience and understanding.”

Binance

Another crypto exchange KuCoin took to X to say that it is also experiencing disruptions due to the same AWS issue. In a notice to users, KuCoin said that due to a “large-scale network outage with AWS services, our platform is currently experiencing temporary disruptions.” The exchange added that its technical team is “working on a fix,” reassuring users that their assets “remain secure and all data is intact.”