Coinbase Faces Widespread Outage, Leaving Users Unable to Access Crypto Exchange
Coinbase, one of the leading cryptocurrency exchanges in the United States, is grappling with a “system-wide outage” that has rendered its services inaccessible to users on both desktop and mobile platforms.
The exchange officially announced the outage on its status page, alerting users to a “major outage” that began at 4:15 am UTC on May 14.
As a result, attempting to visit the Coinbase website currently displays a “503 Service Temporarily Unavailable” error message.
“Coinbase experiencing a system wide outage. We are investigating this issue. Your funds are safe,” the message on its status page reads.
According to a developer guide from Mozilla, this error message commonly indicates that the servers are either undergoing maintenance or experiencing overload.
Coinbase Support took to social media to acknowledge the issue and assure users that they were actively investigating and working towards a solution.
They reiterated that users’ funds remained safe despite the disruption.
Coinbase is experiencing a system wide outage. We are investigating this issue and working on a solution. Please see https://t.co/a3pl4WiDhZ for updates. Your funds are safe.
— Coinbase Support (@CoinbaseSupport) May 14, 2024
This is not the first time Coinbase has faced temporary outages.
On February 28, along with several other exchanges, Coinbase experienced service disruptions due to a surge in crypto trading activity.
While such outages are undoubtedly frustrating for users, some individuals in the cryptocurrency community leverage these incidents to fuel a bullish narrative, suggesting that the heightened activity causing the downtime ultimately benefits the market price.
Although the outage duration and the underlying cause have not been specified by
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