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You should certainly backup your data. While the engineers at Amazon are certainly among the smartest, they are not infallible. Things do fail from time to time.

I lost 1TB of data several months ago due to some backend issues with EBS and S3. Fortunately for me, it was just a backup of a backup of a backup. ;-)

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It's also worth pointing out that this might have been more of a failure of EBS (elastic block storage, an abstraction over S3) than with native S3 buckets.

Ultimately, my EBS device become unusable by any operating system, and Amazon support stated that the data was lost due to several backend systems failing.

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