These technical failures occurred in the Asia Pacific (Tokyo) region. Amazon has admitted to the temporary outages this morning but stated that services are already being restored.
CEO of the company, Changpeng Zhao, stated via Twitter: “It’s causing some 500 error messages on APIs (Application Programming Interface) and affecting some withdrawal processing.”
A screenshot has quickly spread across social media suggesting that traders on an unnamed exchange have been able to buy 45 bitcoin for less than $1 via the Tether (USDT) stablecoin. The price of a single bitcoin at the time of writing is $10,114.
Although not confirming the trades took place on their platform, BitMax has announced an immediate freeze on withdrawals.
Similarly, it appears that some traders were able to complete bitcoin trades for as low as $0.32, based on CITEX exchange’s order book.
AWS stated at 10:27 PDT that they have “identified the root cause” of the problem and an hour later reassured users “we are starting to see recovery” and “continue to work towards recovery for all affected instances and EBS volumes.”