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Coinbase, the largest cryptocurrency exchange in the US, experienced a system-wide outage on May 14, 2024. The outage began at 4:15 am UTC and lasted for more than four hours, affecting both the website and mobile app. During this period, users were unable to access the platform, but Coinbase assured that user funds were safe. The company has since restored some services, though some users may still experience degraded functionality. The cause of the outage has not been disclosed, and user withdrawals remain offline.
"Coinbase is now fully recovered," the exchange said, although its status website says its mobile app and website are experience "degraded performance." Read more: https://t.co/ePw9uc0QGD
$COIN (-2.1% pre) Coinbase recovers after system-wide outage, but user withdrawals remain offline - CT https://t.co/08PBReVrAw
NEW: Coinbase resumes operations after four hours. The exchange announced a major system outage that affected the functioning of the platform on both desktop and mobile devices 🤔 https://t.co/mCpVNIsAaC