Tuesday, February 18, 2025

Upbit Chooses AWS for Storing User Data: What Users Need to Know

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Originally published on: September 24, 2024

In a recent announcement, Upbit, the leading cryptocurrency exchange in South Korea, revealed its plan to shift user data storage to Amazon Web Services (AWS) servers located in the United States starting on October 1st.

This change in privacy policy aims to bolster service reliability, address privacy concerns, and comply with regulations. By partnering with AWS, a renowned cloud service provider, Upbit expects to enhance service continuity, scalability, and data security.

Despite attempts to receive comments from both Upbit and AWS, Cointelegraph did not receive any response at the time of publication.

By transitioning to AWS infrastructure, Upbit aims to improve operational efficiency and uptime, bringing it in line with other major crypto exchanges like Coinbase that utilize AWS for data storage.

However, the decision to store user data on AWS also raises key privacy and jurisdiction issues. Since the servers are located in the US, South Korean Upbit user data will be subject to US laws and regulations, including the CLOUD Act passed in 2018, allowing US authorities to request overseas-stored data.

This raises concerns about data privacy for international users, especially in regions with stringent privacy laws.

Interestingly, a recent report by Chainalysis notes the significant growth of South Korea’s crypto market, driven by factors like the Korea Premium Index (KPI), which indicates rising cryptocurrency prices on local exchanges compared to global markets.

The forthcoming storage shift to AWS introduces both benefits and risks for Upbit users, highlighting the ongoing evolution and challenges in the global crypto landscape.

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