Coinbase Resumes Operations After 3-Hour Outage
Some users may still be experiencing a "degraded" service, the exchange said.
Updated May 14, 2024, 7:05 p.m. Published May 14, 2024, 5:33 a.m.
- Coinbase is back online after battling a major outage that began at 4:15 AM UTC.
- The exchange said some users may still experience failures when sending crypto or withdrawing fiat.
Crypto exchange Coinbase (COIN) is back online after a three-hour outage that began at 4:15 AM UTC.
The exchange returned to use at 07:42 UTC, according to its status page. Website visitors had received a "503 Service Temporarily Unavailable" message beforehand.
The exchange noted the outage in a post on X, saying it was investigating the issue and working on a solution. “Your funds are safe,” it posted. A spokesperson for Coinbase said that company didn’t have anything to add.
According to the status page, some users may still experience failures when sending crypto or withdrawing fiat, marking the service as degraded.
Coinbase shares are down 1.7% in pre-market trading. The price of bitcoin (BTC) appears to be unaffected by the issue, and is trading around $61,900, according to CoinDesk Indices data, down less than 1% in 24 hours.
UPDATE (May 14, 08:17 UTC): Updates with return to service, Coinbase shares.
Sam Reynolds
Sam Reynolds is a senior reporter based in Taipei. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX's collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC.
