Coinbase Experiences System Outage; Funds Remain Secure
On May 13 at 21:19 PST (May 14 at 07:19 Kyiv/MSK), the cryptocurrency exchange Coinbase encountered a system-wide outage. Shortly before, users reported issues with sending cryptocurrencies and withdrawing fiat.
On its X platform, Coinbase announced that it is investigating the issue and working on a solution.
Coinbase is experiencing a system wide outage. We are investigating this issue and working on a solution. Please see https://t.co/a3pl4WiDhZ for updates. Your funds are safe.
— Coinbase Support (@CoinbaseSupport) May 14, 2024
“Your funds are safe,” the message stated.
According to Coinbase’s status page, the website, mobile version, and the exchange’s API are experiencing reduced performance.
The exchange reported a full recovery from the outage. However, some users may still experience difficulties in transferring assets.
Coinbase is now fully recovered. We appreciate your patience and apologize for the inconvenience. https://t.co/AAzEMPaJGL
— Coinbase Support (@CoinbaseSupport) May 14, 2024
The incident did not affect the price of Bitcoin. According to CoinDesk Indices, the leading cryptocurrency is trading at $61,976.
Earlier in March, Coinbase resolved an issue that caused delays and occasional “zeroing” of user balances on the platform.
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