• AWS-related outage caused temporary downtime at KuCoin and Binance, affecting withdrawals and services.
  • KuCoin assures users that all funds are safe and urges caution against misleading information.

A widespread Amazon Web Services (AWS) outage rippled across the crypto space today, temporarily affecting major platforms including KuCoin and Binance. The disruption, which began in the early hours of trading, sent shockwaves through the market as traders found themselves unable to access critical services.

KuCoin acted swiftly to address user concerns, with CEO Johnny Lyu taking to social media to assure customers that all assets remain secure. "Our technical team is working around the clock to restore full functionality," Lyu stated, while emphasizing that the exchange's cold wallet storage was never at risk.

While Binance has already resumed withdrawals with minor delays, KuCoin is finalizing its recovery timeline. The incident has highlighted the crypto industry's growing dependence on cloud infrastructure, with AWS hosting critical components for numerous exchanges.

As misinformation tends to surge during platform disruptions, KuCoin's communications team has been particularly proactive, cautioning users to ignore rumors and rely only on official channels. The exchange has been providing hourly updates via Twitter and its status page.

Market analysts note that KuCoin's transparent communication has helped stabilize sentiment during the outage. "This is how you maintain trust during a crisis," said blockchain infrastructure expert Dr. Emma Chen. "The speed and clarity of their response will likely strengthen user loyalty long-term."