Tech
Coinbase faces an outage, users may notice inconsistencies in how the platform works
Cryptocurrency trading platform Coinbase is experiencing a system-wide outage. The development came to light on Tuesday, May 14 after users of the platform flooded X with complaints that the CoinBase the site wasn’t working. Soon after, a message was posted on the exchange saying that his systems were experiencing an outage and that an internal investigation into the issue had been launched. The outage has not been resolved at this time.
According to posts related to the outage on X, the problems on the Coinbase platform began around 10:00 am IST on Tuesday. The exact time remains unclear.
These types of instances can be a scary time for members of the crypto community. The first of many fears is that of potential hacker attack. Concerns about the safety of their funds tend to create a tense situation for the overall ecosystem.
In the message displayed on the platform, Coinbase said that its users do not need to worry about their funds due to this outage.
“Coinbase is experiencing a system-wide outage. We are investigating this issue. Your funds are safe,” the exchange said in his message.
The notification was also shared by the official Coinbase support handle on X, which has over 71 thousand followers.
Coinbase is experiencing a system-wide outage. We are looking into the issue and working on a solution. Please look https://t.co/a3pl4WiDhZ for updates. Your funds are safe.
— Coinbase Support (@CoinbaseSupport) May 14, 2024
After conducting a preliminary investigation into the matter, Coinbase’s support page informed its followers that some services are being restored, but customers may still experience connectivity issues.
“We appreciate your patience as we work to correct this issue. We are still monitoring this closely,” Coinbase Support noted.
We are seeing the restoration of some services. We know customers may still be experiencing connectivity issues and appreciate your patience as we work to resolve them. We are still monitoring this closely. https://t.co/AAzEMPaJGL
— Coinbase Support (@CoinbaseSupport) May 14, 2024
According to user complaints, the issue on Coinbase is observed in the US and UK. Commenting on the situation, many have denounced the exchange for regularly facing outages.
At this time, the reason why Coinbase experienced this downtime remains unknown.
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