In response to the AWS collapse, BXB Exchange CEO, Kwun Phite Consunji Lock, was very critical about it stating, “Exchanges need to think more about security and look past the so called cloud servers that can put users data in jeopardy”. On August 23rd, numerous cryptocurrency exchanges collapsed due to the failure of Amazon’s web services around the world. According to sources, the AWS server’s architecture was the main point of failure that sent hundred of API’s to malfunction. Binance, BitMex, KuCoin, and other major crypto exchanges have already reported about problems with their servers which forced them to shut
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