Coinbase Assures User Funds Amidst System Wide Outage
Coinbase, a major U.S.-based cryptocurrency exchange, is currently dealing with a system-wide outage that began at 4:15 am UTC on May 14. The issue has rendered the platform inaccessible to users attempting to use both desktop and mobile applications. In response to the outage, Coinbase has communicated through its official status page that it is actively investigating the cause and working toward a resolution.
The exchange has assured its users that their funds are secure despite the technical difficulties. This is not the first instance of technical issues for Coinbase; similar problems occurred in March due to heavy trading volumes and in February when other exchanges faced disruptions that briefly impacted Bitcoin prices. As the situation unfolds, Coinbase continues to update its user base on the progress of restoring full functionality to its platform.
