Crypto News Flash #259: Crypto Trading Halted In South Korea Due To Amazon Web Services Failure
South Korea is undoubtedly bringing tons of volume in crypto space since the inception of cryptocurrency trading. There are various exchanges in there which brings significant volume on day to day basis. One of those exchange is Upbit, which recently got down when Amazon based Web Services failed temporarily.
Upbit exchange remained down for the hour or so which meanwhile a comment came from Upbit officials:
“Due to the current server failure (Amazon internal DNS issue), you can not temporarily use up-bit service. In order to protect your assets and secure transactions when you resume KRW transactions, we will cancel your orders under the following conditions."
Amazon Web Services is a subsidiary of Amazon which provides cloud computing based services to various information technology companies as well as global enterprises spread across the nations.
Well, crypto trading is said to be decentralized but the exchanges still uses centralized medium to validate and provide for that trading and that's why any setback in those centralized services do affect decentralized crypto trading.
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