Coinbase, a major cryptocurrency exchange, has partially restored its services following an outage that disrupted trading activities on its website and mobile app. The exchange reported the outage and subsequent recovery in a post on May 14, acknowledging that while some services have been restored, customers may still experience connectivity issues. The incident began on May 13, and although Coinbase reassured users of an active investigation, the exact cause of the outage remains unclear.
During the outage, some users encountered difficulties when attempting to send funds, as reported by Coinbase on its status page. While the exchange has stated that the incident has been resolved, the reason behind the two-hour outage remains undisclosed. Typically, centralized cryptocurrency exchanges experience downtime due to market volatility spikes or high traffic on blockchain networks.
This outage isn’t the first technical difficulty Coinbase has faced; in March, some users experienced account balance display issues coinciding with a Bitcoin rally. However, the recent incident seems to stem from a technical problem on Coinbase’s backend, as evidenced by minimal movements in Bitcoin and Ethereum prices during the outage. Despite the exchange’s efforts to restore services, ongoing vigilance is essential for users navigating the volatile cryptocurrency market.
