Coinbase Confirms Fund Safety Amid Widespread System Outage Affecting Crypto Transactions
Coinbase, one of the largest cryptocurrency exchanges in the U.S., recently experienced a widespread system outage that affected crypto transactions for its users. The issue was first reported on Coinbase’s status website, which noted that “some users may encounter failed transactions when sending cryptocurrencies or withdrawing fiat currencies.”
During the incident, the exchange’s website displayed a message stating, “503 Service Temporarily Unavailable.” Coinbase later acknowledged that the service disruption was a system-wide outage. Despite the technical difficulties, Coinbase reassured its customers, affirming, “Your funds are safe.”
A spokesperson for Coinbase stated that there was no additional information to provide beyond what had been posted on the X platform. Despite the operational challenges at Coinbase, the price of Bitcoin (BTC), according to CoinDesk Indices, appeared unaffected by the outage, trading above $62,500 with an increase of more than 2.7%.
