The Binance exchange experienced problems internationally according to its CEO Changpeng “CZ” Zhao, who tweeted: “AWS is having an issue, mostly with caching services, affecting some users globally. We are working with them and monitoring the situation closely. It's causing some 500 error messages on APIs and affecting some withdrawal processing.”

The KuCoin crypto exchange also said it had problems with its services hosted by AWS Tokyo. The company stated on its website: “Due to overheating, part of our services might become unavailable. The engineering operation team is currently deploying relevant resources of high availability across regions to deal with any possible emergencies that might happen.”

Founding partner at Primitive Ventures Dovey Wan tweeted that a number of Asian exchanges were affected. “Many Asian exchanges see price instability. Trades were able to execute, yes you could buy extremely cheap bitcoin,” she wrote.

She also shared a screenshot showing that traders were able to buy 45 bitcoin for less than USD 1. In another case, some users were able to execute trades on bitcoin for as low as USD 0.32. Currently, bitcoin is trading at around USD10,190.

AWS says it has found the root cause and the situation is beginning to return to normal.