""We continue to investigate the root cause for the network connectivity issues," wrote Amazon Web Services (AWS) late Monday morning. Coinbase acknowledged the impact of the AWS outage on its services. "Many online services, including Coinbase, experienced issues," a spokesperson said in a statement to Fortune. "Coinbase services have recovered. Some older asset transfer requests are still pending, which we are investigating.""
"'Services are impacted due to issues at AWS, one of our third party vendors,' said Robinhood, which derives a substantial portion of its revenue from crypto trading, in a post on X. 'We're working to resolve this ASAP.' It is unclear which Robinhood services are still impacted. Spokespeople for Robinhood and AWS did not respond to requests for further comment. Thousands of users reported that Coinbase and Robinhood were down on Monday, according to the website Downdetector."
"Crypto developers aim to create a decentralized internet that isn't reliant on one party in the spirit of Bitcoin, the first blockchain developed by the pseudonymous figure Satoshi Nakamoto. Still, Monday's outage illustrates that portions of the crypto industry still depend on large tech providers like Amazon. And, while there have been attempts to create decentralized cloud computing services like Arweave to compete with centralized incumbents, they haven't taken off."
An AWS outage centered in northern Virginia caused widespread disruptions to online services, affecting Coinbase, Robinhood, Snapchat, Hulu and others. Coinbase reported recovery of most services but noted some older asset transfer requests remain pending and under investigation. Robinhood attributed impacts to issues at AWS and said it was working to resolve them, while specific affected services remained unclear. Thousands of users reported the outages to Downdetector. The incident highlights that many crypto platforms still depend on centralized cloud providers despite efforts to build decentralized infrastructure; attempts like Arweave have not yet achieved broad adoption. Prior AWS malfunctions also disrupted exchanges such as Binance and Kucoin.
Read at Fortune Crypto
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