Coinbase reports system-wide outage, ensures 'funds are safe'

BusinessMay 14, 2024, 1:57AM EDT
UPDATED: May 14, 2024, 3:55AM EDT
Coinbase reports system-wide outage, ensures 'funds are safe'

Quick Take

  • Coinbase is experiencing a system-wide outage.
  • The exchange said it is investigating the issue.
Advertisement

Cryptocurrency exchange Coinbase is experiencing a “system-wide outage,” and the company is investigating the issue.

The exchange stated in an X post that its team is working on a solution. “Your funds are safe,” the firm added.

Coinbase’s website currently displays a “503 Service Temporarily Unavailable” alert when accessed.

The crypto exchange previously encountered a temporary technical glitch in March when its trading platform experienced problems amid heavy trading, including showing some users that their account balance was $0.

Update: Coinbase noted at 3:34 a.m. ET that it was fully recovered.