Sudden Bitcoin Surge Causes Unexpected Disruption in Coinbase Operations
Summary:
A sudden increase in Bitcoin's price on 28th February seems to have disrupted Coinbase, with numerous users reporting zero balances in their accounts. Coinbase has reassured users their funds are secure and is working to resolve the issue. Bitcoin's price had surged to over $64,000 before stabilizing around $61.4K. More details will follow as the situation develops.
The price of Bitcoin soared sharply on Feb 28 at around 9:00 AM PST. This unexpected surge seems to have interfered with the operations of Coinbase, as numerous users took to social media, sharing that their account balances suddenly displayed zero. At the time of writing, it appears this issue is still unresolved, yet Coinbase assures users that their funds are secure, as per a tweet from @CoinbaseSupport. "We have noticed that a few users are seeing zero balances in their Coinbase accounts and are experiencing difficulties buying or selling. We are currently looking into this issue and will update you soon. Please be assured, your funds are secure." With the surge, Bitcoin's price rose beyond $64,000 just prior to the incident, but has since dipped back down, hovering around $61.4K at the time of writing this article. More details on this breaking story will be shared as they emerge.
Published At
2/28/2024 9:05:56 PM
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