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Binance, KuCoin, and MEXC Experience Major Disruptions Due to AWS Outage

Recently, Binance, KuCoin, and MEXC encountered significant service interruptions caused by an outage from Amazon Web Services (AWS).

The disruptions affected numerous functionalities, including trade placements and user withdrawals, as AWS reported “connectivity issues.”

Binance was proactive in addressing the problem, urging users to retry failed orders while confirming the restoration of withdrawals shortly after the incident.

Meanwhile, KuCoin assured its users that assets remained secure even amidst the temporary disruptions.

MEXC users faced challenges such as abnormal candlestick charts and delays in asset transfers, but the exchange promised that funds were safe.

This incident underscores the reliance of centralized exchanges on cloud service providers like AWS, highlighting a vulnerability in their operational infrastructure.

In a related development, South Korea has intensified regulatory scrutiny on unregistered crypto platforms, including KuCoin and MEXC.

The Financial Intelligence Unit (FIU) has mandated that foreign exchanges comply with registration requirements to operate legally in South Korea.

With only 28 crypto companies currently registered in the country, this regulatory push may impact overseas exchanges significantly.

As disruptions and regulatory changes continue to unfold, cryptocurrency users are encouraged to stay informed about the platforms they utilize.