Coinbase paused transactions in US for hours to address bank transfer issues

2 years ago

Coinbase temporarily stopped transactions for users successful the US owed to an contented preventing the institution from processing withdrawals oregon deposits involving slope accounts. Problems started astir 7AM ET, but the institution didn’t resoluteness the contented until astir 12:40PM ET.

“We are presently incapable to instrumentality payments oregon marque withdrawals involving US slope accounts. Our squad is alert of this contented and is moving connected getting everything backmost to mean arsenic soon arsenic possible,” Coinbase explained on its presumption page, adding that users could inactive usage a debit paper oregon PayPal relationship to bargain crypto.

At the clip of the outage, Coinbase said connected Twitter that users’ funds are “safe,” before announcing that transactions person been restored astir 3 hours later. The Verge reached retired to Coinbase with a petition for comment, but didn’t instantly perceive back.

For the past mates of days, Coinbase users besides had to woody with delayed transactions with Solana aft its web suffered an outage connected Friday. This has been a unsmooth twelvemonth for Coinbase and crypto successful general, arsenic the value of cryptocurrency has taken a nosedive. Coinbase laid disconnected implicit 1,000 employees successful June and is reportedly facing an investigation from the Securities and Exchange Commission.

Update October 2nd, 12:49PM ET: Updated to adhd that Coinbase has fixed the issue.