BREAKING: Coinbase users experience zero account balances amid Bitcoin surge

Coinbase, a prominent U.S.-based cryptocurrency exchange, faced technical issues that led to some customers seeing their account balances drop to $0. This glitch occurred hours after Bitcoin experienced a notable rally, briefly surpassing the $60,000 mark for the first time since Nov. 2021. The cryptocurrency went on to approach $64,000 before it quickly retreated back to around $60,000. This incident unfolded just as Bitcoins all-time high of over $69,000 seemed within reach once more.

Coinbase outages in the last 24 hours.

Immediate response from Coinbase

Coinbase acknowledged the problem, stating on its website that it was aware some users might see a zero balance in their accounts and could encounter errors while attempting to buy or sell. The exchange assured its users that it was investigating the issue and would provide an update soon. Importantly, Coinbase emphasized that despite the display error, users assets were safe.

We are aware that some users may see a zero balance across their Coinbase accounts & may experience errors in buying or selling. Our team is investigating this & will provide an update shortly. Your assets are safe.

The timing of the outage was notable due to its coincidence with a significant uptick in Bitcoin‘s price. Coinbase’s prompt acknowledgment of the issue aimed to quell any immediate concerns about asset security among its user base.

Coinbase, listed on NASDAQ under the ticker COIN, has a substantial user base that relies on its platform for cryptocurrency transactions.