- Coinbase exchange has experienced technical difficulties again.
- Users encountered delays in transactions, and some clients had zero balance incorrectly displayed.
- Company representatives said that the problems were due to increased traffic and have already been fixed.
Cryptocurrency exchange Coinbase has once again faced a technical glitch. It caused delays in trading operations, as well as led to the erroneous display of zero balance for some customers.
We are aware some users may experience increased latency across Coinbase and a few users may see intermittent zero balance. Rest assured, your funds are safe. Our team is investigating this issue and will provide an update. Trading is not impacted at this time.
- Coinbase Support (@CoinbaseSupport) March 4, 2024
On March 4, 2024, Coinbase Support recorded a software glitch. Users complained about the long process of processing transactions and other operations. Moreover, some customers stopped displaying available funds in the “balance” column and instead of them appeared a zero value.
Representatives of the exchange assured clients that all assets are safe, and the problems will be eliminated soon. It took a few hours for the specialists to restore the work. The developers have issued a fix, which is designed to stabilize the situation.
We have issued a fix which remediated the display issue impacting customer account balances and latency across. We appreciate your patience.
- Coinbase Support (@CoinbaseSupport) March 4, 2024
It should be noted that on February 28, 2024, users of the cryptocurrency exchange faced similar problems. Last time it took the company’s developers 12 hours to fix the technical problems.
The Coinbase team stated that the technical failure was due to increased traffic, the volume of which increased rapidly against the background of the bitcoin rally. On March 5, 2024, the first cryptocurrency tested the level of $68 500, closely approaching the historical maximum.
Recall, we wrote that the exchange Coinbase recorded a mass movement of bitcoins. Analysts CryptoQuant reported the withdrawal of more than 18,000 BTC worth almost $1 billion.
