The Tokyo-based servers have from Amazon experienced some issues which caused Asians crypto exchanges to have operational problems.
The CEO of Binance, Changpeng Zhao took to Twitter to alert users of this issue, stating that “Amazon’s servers are returning 500 Internal Server Error, blocking access to APIs related to the processing of withdrawals.”
The servers must have shut down due to overheating, as crypto exchange KuCoin reported an overheating issue in AWS’s servers which rendered their services completely unavailable.
KuCoin went on to say that their engineers were working to solve the problem so that operations can go back to normal.
This blackout, which affected mostly crypto exchanges in Asia, poses a big problem for their users as the market volatility can allow traders to buy Bitcoins very cheap by pre-placing limit orders.
Founding partner of Primitive Ventures, Dovey Wan, also reported the issue on Twitter, also posting a screenshot from crypto exchange BitMax. Users on BitMax were able to purchase 45 Bitcoin for under a $1 worth of USDT, at a time when Bitcoin’s marked t price was $10,190.
The AWS cloud status page of Amazon has confirmed that there are issues with their Tokyo-based servers, which manage the Asia Pacific Northeast area.
Amazon stated in a press release that the main cause for the malfunction has been found, and cloud engineers are already in the process of solving the issue.
The status page shows that some Amazon Elastic Block Store (EBS) volumes have degraded performance. At 11:40 PM PDT, Amazon reported observing some signs of recovery, and the team is working to restore all the affected EBS volumes.
Featured Image: Tech Spot
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