Account Balances Are All Empty, Coinbase Users Go Out As BTC Breaks $60K!


"It's a pity that users can't take profit when BTC goes up, luckily not all exchanges have problems."

Despite the price of the cryptocurrency Bitcoin (BTC) surpassing $63,000, an outage on Coinbase caused some users to see zero balance in their accounts and were unable to trade on Wednesday.

However, a status update on the Coinbase website said that customers' digital assets are safe but they are aware that some users may not only experience zero balance in their accounts but also find it difficult to buy or sell.

According to Brian Armstrong, the Chief Executive Officer (CEO) of Coinbase believes that the price of BTC that has risen to the highest level since November 2021 has caused an increase in traffic to the point of causing service disruption.

He added that he started to see a slight increase in customers but the issue regarding the matter is still ongoing due to the high traffic and it is bigger than before.

There was a sharp drop in the price of BTC in some interest before Coinbase posted about the outage.

Earlier today, there was another service outage that involved delayed transactions for some Coinbase users trading on the Ethereum (ETH) network, however the issue was resolved recently.

It is well known that Coinbase shares made some early gains, with its price up 0.79% trading below $200 while BTC crossed $64,000 before falling back below $60,000.