South Korean cryptocurrency exchanges such as Upbit paused services temporarily on the 22nd. Was it due to a disruption at Amazon Web Services?
Upbit is one of the largest-volume exchanges in Korea
The exchange had halted trading services for about an hour. Upbit stated the following;
“Currently, due to a server outage (an internal DNS issue at Amazon), Upbit services are temporarily unavailable. When resuming trading in Korean won, to protect assets and trades, orders will be canceled under the following conditions.
Order cancellations:
・Buy orders at prices higher than the closing price based on the fiscal year ending before 2018-11-22
・Sell orders at prices lower than the closing price based on the fiscal year ending before 2018-11-22
Amazon’s subsidiary AWS is widely used as a cloud computing platform and is utilized across a wide range of industries including internet-based businesses, multinational companies, and platforms.
Despite the decentralized nature of cryptocurrencies, trading services on major exchanges rely heavily on centralized cloud computing solutions such as AWS.
Upbit reported that services have returned to normal after the DNS outage.
