Cryptocurrency exchange Coinbase said in an X post that it has restored some of its services after an outage that disrupted trading on its website and mobile app.
in Share X On May 14, US-based cryptocurrency exchange Coinbase said it had restored “some services,” noting though that customers “may still experience connectivity issues.” The exchange's update comes two hours after Coinbase initially reported a “system-wide outage” and assured customers of an active investigation into the matter.
Coinbase allegedly first encountered the issue on May 13 at approximately 21:19 PST. In a notification message on its status page, the exchange said that some users “may experience failure when sending funds,” without going into details about this.
At the time of writing, Coinbase's status page says “this incident has been resolved,” though it's unclear what caused the two-hour “widespread outage.” Centralized cryptocurrency exchanges usually decline due to high market volatility or high blockchain network traffic.
Like Bloomberg NotesCoinbase previously experienced technical difficulties in March, resulting in some users' accounts displaying a zero balance. The report stated that this incident coincided with the rise of Bitcoin to record levels shortly after.
However, the latest incident appears to be related to a technical issue on the back-side of the exchange, as Bitcoin (BTC) and Ethereum (ETH) showed almost no movements over the past 24 hours with changes of +0.31% and -0.44% respectively. According to CoinGecko.