On Wednesday afternoon, Coinbase users’ accounts showed “zero balance.” Coinbase confirmed the issue on its website status page 12:40 pm ET, but claimed that customers’ cryptocurrency funds were safe.Cryptocurrency exchanges blame outages on increased traffic as Bitcoin price surges Over $60,000.
Coinbase said customer transactions will slowly return online starting at 2:29 p.m. ET. The company added that some users may still experience errors when logging in, sending and receiving funds, and using certain payment methods.
“We appreciate your patience. We are starting to see improvements in customer transactions,” Coinbase said on its website status page. “Due to increased traffic, some customers may still see errors with login, send, receive, and certain payment methods. Rest assured that your funds are safe.”
Coinbase first reported it was aware of “trading delays” at 11:24 a.m. ET on Wednesday.CEO Brian Armstrong said traffic to the platform is growing significantly Posts on X, the company is making every effort to rectify it. Coinbase emphasizes that users’ assets are protected.
lower detector Coinbase experienced a spike in service outages starting around noon ET on Wednesday, according to reports. According to DownDetector data in the morning, more than 9,000 customers reported outages, but the number of reports has since dropped significantly. Coinbase is the largest cryptocurrency exchange in the United States, holding There are over $255 billion in assets on its platform.
Coinbase Help page A message is displayed stating that the wait time is longer than usual. A company spokesperson told Gizmodo that they are actively working to resolve the issue. Users took to social media to express their concerns over Wednesday’s cryptocurrency exchange outage.
“Does anyone else have a zero balance in their Coinbase account?” wrote Users on X.
“Mine just dropped to zero and the help center can’t even load,” Wrote another one.
Bitcoin prices top $60,000 as Coinbase falls on Wednesday For the first time since 2021. It marks a major resurgence for the cryptocurrency’s main offering. Increased interest in Bitcoin appears to be the cause of the outage.