Yesterday, I created a new instance but I cannot connect to it. Tried pinging it from my computer, online ping sites etc but it is just not reachable.

In the AWS console. everything seems to be functioning normally. The reachability check is successful. Screenshots are given below :

AWS Console screenshot

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I tried using different AMIs, regions but to no avail. I just cannot connect to any AWS instance.

Please help. I'm clueless right now.

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Did you allow ICMP and other traffic in security group settings? You should check the security group settings. It looks like you are using a default security group as seen on the 2nd row of 2nd column of the table on your screenshot. You should click "view rules" and adjust the rules there.