Coinbase glitch leaves users with empty accounts
Key Takeaways
- Coinbase users are reporting that their account balances are zero amid rising Bitcoin prices, sparking alarm throughout the cryptocurrency community.
- Coinbase assured users of the safety of their assets and began investigating the flaw, which it determined was due to a possible service outage caused by a surge in the value of Bitcoin.
- The situation stabilized within hours as Coinbase restored normal account balances and continued to investigate the cause of the technical setback.
Coinbase users suddenly experienced: flaw That’s their Accounts showing a balance of 0.
this problem At the same time as the value of Bitcoin rises It reached over $60,000, causing widespread concern in the cryptocurrency community.
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As the price of Bitcoin surged, reports began flooding social media from concerned Coinbase users around 5:00 PM UTC on February 28. Due to technical issues, my balance dropped to 0.
Despite the alarming display, Coinbase was quick to reassure users. declaration:
We are aware that some users may see zero balances across their Coinbase accounts and may receive errors when making purchases or sales. Our team is investigating this issue and will provide an update soon. Your assets are safe.
By 12:13 AM (UTC), all Coinbase services were reported to have been restored, although a small number of users may still be experiencing incorrect balances displayed on their accounts.
After a few hours, The case has been marked as solved.
This isn’t the first time Coinbase users have encountered this issue, and it’s sparked discussion. Improved system stability is required.
Nonetheless, Coinbase’s quick response and assurance of asset safety brought some relief to users. The incident serves as a reminder of the technical vulnerabilities that can impact digital currency exchanges during exciting market times.
In other Coinbase-related news, the cryptocurrency exchange has discontinued direct payments for Bitcoin and other UTXO-based cryptocurrencies through its merchant service, Coinbase Commerce.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
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