HomeNewsCoinbase in Troubles: The Latest on the System-Wide Outage

Coinbase in Troubles: The Latest on the System-Wide Outage

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  • A system-wide outage on crypto exchange Coinbase affects both desktop and mobile users.
  • The Chief Legal Officer of Coinbase files a lawsuit against the Chairman of the SEC for deceptive remarks about cryptocurrency legality.

Crypto exchange Users of both desktop and mobile platforms cannot presently access the Coinbase website or exchange platform. In an X post, the company said it was experiencing a “system-wide outage,” adding that the team was looking into the matter and stressing that funds were secure.

Coinbase is experiencing a System-Wide Outage

According to the status page of the exchange, the outage seems to have begun at 4:15 am UTC on May 14. It further says that about an hour prior, some customers had begun to have issues withdrawing money or sending cryptocurrency over the platform.

The Coinbase website currently shows a warning saying “503 Service Temporarily Unavailable.” Those who depend on the site for their cryptocurrency transactions are quite concerned about this.

Unknown Reason of the Outage

The reason for the outage is not obvious. A few users claimed that upon trying to visit the site, they got a notice saying “planned maintenance is in progress”. Some said they couldn’t go on the Coinbase wallet site either.

A Mozilla developer guide states that a server that is 503 Service Unavailable usually means that it is overburdened with activity or is down for maintenance. This implies that there could be an unanticipated spike in activity that the servers could not manage or planned maintenance as the cause of the problem.

Fresh Announcement from Coinbase

Coinbase most recently reported that certain services had recovered. The exchange thanks consumers for their patience as they try to fix connectivity problems and admits that some clients may still have them. They have an eye on things quite closely.

On the other hand, as previously reported by ETHNews, the Chief Legal Officer of Coinbase had previously sued SEC Chairman Gensler, claiming that he had misled investors about the legitimacy of cryptocurrencies.

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Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628