Coinbase trading accounts affected by outage have been restored
Coinbase Global recently experienced a glitch that left some users with a zero balance in their accounts. The cryptocurrency exchange took to social media platform X to inform users that services have now been restored, but a few customers might still see an incorrect balance. The company said that its team is working diligently to fix this display issue.
Funds safe and trading improved, says Coinbase
Earlier, as Bitcoin hit $60,000 for the first time in over two years, Coinbase users faced an outage. The company reassured customers that trading was improving and their funds were secure. This price surge was driven by an influx of capital into new US spot bitcoin exchange-traded products and anticipation of April's halving event, which will slow the release of the cryptocurrency.
Coinbase CEO addresses surge in traffic
Coinbase CEO Brian Armstrong addressed the issue separately on X, attributing it to a massive increase in traffic. At its peak, more than 9,000 users reported problems, according to Downdetector. However, by 1213 GMT on Thursday (9:20am IST), the number of reports dropped to around 28. Coinbase's restoration of services and reassurances aim to ease user concerns and maintain trust in the platform.
