- AWS network outage disrupted Binance and KuCoin, causing trade delays and suspended withdrawals to safeguard user funds.
- Binance resumed withdrawals after partial recovery but warned users of ongoing delays in full service restoration.
- KuCoin confirmed outages, launched investigations, and assured users their assets and data remained secure during the disruption.
Two of the world’s largest cryptocurrency exchanges, Binance and KuCoin, faced temporary service disruptions on Monday. The issues were reportedly linked to a network outage in Amazon Web Services (AWS), which powers critical backend systems.
According to Binance, the incident led to delays and partial failures in trading order executions. KuCoin also confirmed similar disruptions on its platform due to a large-scale AWS issue, although both exchanges assured that user funds remain secure.
Binance suspends withdrawals as services fail
Binance reported that the AWS network interruption directly impacted some of its services. In response, it temporarily suspended all withdrawal functions “to keep safe,” according to a post on X.
The platform explained that while some trading orders were still going through, others were failing. To address the issue, Binance’s technical team began coordinating with AWS to restore services as quickly as possible. Binance later stated that services were starting to recover and withdrawals had reopened.
However, it cautioned that certain functions might still experience delays during the full recovery process. The company added that its team would continue monitoring the platform to ensure smooth operations. It also thanked users for their patience while recovery efforts continued.
KuCoin also affected by AWS disruption
At the same time, KuCoin confirmed that its own systems were experiencing temporary outages. The platform attributed the problem to a “large-scale network outage with AWS services,” according to an official statement.
KuCoin’s team launched an urgent investigation and said it would announce recovery timelines separately. Despite the disruptions, KuCoin reassured users that all assets remained safe and data was intact.
The company also advised users to follow official announcements and avoid unverified information. No official estimate of affected user accounts has been provided by either platform at the time of reporting.
Recovery ongoing, teams remain on high alert
Binance emphasized that most services were beginning to stabilize. However, it noted that complete functionality might take additional time to fully resume. The company acknowledged that users could retry failed orders and continue using available services.
KuCoin has yet to confirm when all features will be restored, but its technical team Is actively engaged. Both exchanges are expected to provide more updates as they work closely with AWS engineers.
As per the exchanges, trading activity on both platforms may continue experiencing interruptions. The exchanges advised users to use official communication channels for real-time updates on service status.
