Coinbase crashes due to technical issues after Bitcoin touches $63K

Coinbase is experiencing technical issues that dangle degraded space performance and triggered many users to search out a zero balance on their accounts.

The alternate’s net space and app are both down as of press time.

Coinbase is also struggling with delayed Ethereum and ERC-20 transactions. Its voice net space signifies the alternate is responsive to the failings and is investigating the reason.

The alternate posted an announcement about the outage to alleviate about a of the dreadful concerns stemming from rampant speculation on social media. The alternate acknowledged:

“We’re mindful that some users would possibly well moreover honest leer a zero balance correct thru their Coinbase accounts & would possibly well moreover honest ride errors in procuring or selling. Our team is investigating this & will provide an change presently. Your sources are safe.”

Outage speculation

Customers started reporting the outage after Bitcoin crossed $60,000 on Feb. 28, causing many to speculate that the outage would possibly well well end result from dormant users returning to the platform amid the market rally.

Others urged it will moreover honest be a signal of retail returning to the market and opening novel accounts, pointing to the Coinbase outages in 2017, essentially triggered by a surge of contemporary users at some level of the bull bustle. A couple of even raised concerns that the alternate will had been hacked.

Some jokingly called it a “rug pull” by the alternate, whereas others acknowledged Coinbase crashing was once a confirmation of the bull market.