Coinbase, the US-based cryptocurrency exchange, has announced via a recent update in an X post that it has partially restored its services after experiencing a disruption that affected trading on both its website and mobile app. The platform clarified that while some services are back online, customers might still face connectivity issues. This update was provided two hours after Coinbase first reported a widespread outage and assured users that they were actively investigating the issue.
Coinbase reportedly encountered the issue on May 13 around 21:19 PDT. In a notification posted on its status page, the exchange mentioned that some users might face difficulties when sending funds, but did not provide further details.
As of the latest update, Coinbase’s status page indicates that the incident has been resolved, although the cause of the two-hour outage remains unclear. Typically, centralized crypto exchanges experience downtime due to sudden market volatility or increased blockchain network activity.
Bloomberg has reported on previous technical challenges faced by Coinbase, such as a March incident where some users saw zero balances in their accounts. Interestingly, this issue occurred just before a significant Bitcoin rally to record highs.
However, the recent outage seems to stem from a technical glitch on Coinbase’s backend, as evidenced by the minimal movement in Bitcoin (BTC) and Ethereum (ETH) prices over the past 24 hours, showing only marginal changes of +0.31% and -0.44%, respectively, according to CoinGecko.
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