Coinbase, one of the world’s largest cryptocurrency exchanges, has admitted a major flaw in your system.
Coinbase, one of the world’s largest cryptocurrency exchanges, has admitted a major flaw in your system.
Users reported seeing their account balances drop to zero, causing widespread concern and confusion across the platform.
The issue, first identified earlier this Wednesday, has affected transactions across the board, including the buying, selling and transferring of funds.
Coinbase responded quickly to the issue, assuring its users that their assets are safe and that the team is actively investigating the issue to provide a timely resolution.
The issue appears to be part of a broader issue affecting site performance, particularly transactions involving Ethereum and ERC-20 tokens, which are experiencing significant delays.
According to Coinbase CEO Brian Armstrong, the issues have been caused by a large increase in traffic amid the current cryptocurrency rally.
The cryptocurrency community has responded with a mix of alarm and patience. Experienced influencers and investors on social media platform X have been quick to calm the nerves of the less experienced.
However, the incident has raised questions about the strength of the cryptocurrency platform.
