Coinbase says client assets safe amid website outage

This year, the exchange has already experienced several outages

14.05.2024 - 09:55

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What’s new? US crypto exchange Coinbase has experienced a “system-wide outage,” resulting in limited access to its services via its website from computers and mobile devices. Representatives of the exchange said that the website went down at 4:15 UTC on May 14, with a server error message 503 (Service Temporarily Unavailable) displayed when trying to access it. The most common cause of such an error is server overload or service outage.

What else is known? Coinbase’s support team reported in X that they are working to resolve the issue and also assured users that their assets are safe. At the time of writing, the exchange’s website is back online.

This is not the first Coinbase outage this year. On February 28, Coinbase and several other exchanges faced temporary disruptions due to a sharp increase in the activity of traders during the sudden collapse of bitcoin, as a result of which the price of the asset fell by almost 10%, and then rose sharply again.

On March 2, the exchange also experienced an outage that caused a drop in trading performance and errors in deposits and withdrawals. The Coinbase team fixed the problem the same day, emphasizing that customer funds were safe.

On March 5, Coinbase reported problems with the interface, which led to an incorrect display of account balances for some users. Some users had zero balances, which did not correspond to reality. At that time, the exchange also fixed the problem and emphasized that nothing threatened the assets of clients.

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