Gemini down due to Amazon Web Services EBS outage; exchange working on restoring functions

Crypto exchange Gemini services are down, causing speculation that it is the latest victim of the FTX crisis. 

However, the exchange has maintained on its status page that wire transfers are affected, but funds are secure. 

“Gemini is investigating reports of potential service disruptions. All customer accounts and funds remain completely secure,” Gemini said

Further investigation has revealed that the outage is due to an Amazon Web Services EBS outage with one of their primary databases.

We experienced an Amazon Web Services EBS outage with one of our primary databases. We have restored the database and are bringing the exchange back up.

— Gemini (@Gemini) November 16, 2022

As of now, the exchange has confirmed that they are still investigating the issue and that they will provide more updates as they become available. 

As a result of the halting incident, Twitter users have expressed fears, citing the current market condition, claiming “Nothing is safe at the moment.”

Nothing is safe at the moment ..get your crypto off all exchanges !

— themarchinghammer (@HammerMarching) November 16, 2022

Journalist at CryptoSlate

Soumen is a dedicated researcher and writer in the field of cryptocurrencies, DeFi, NFTs, and GameFi projects.