The failure occurred on Wednesday, February 28, amid rush demand for the purchase of bitcoins. Rising prices have led to huge demand. Many Coinbase clients were extremely concerned when they discovered a zero balance in their accounts when logging into the exchange’s service application, CNBC reports.
In response to user queries, Coinbase support stated that the company has no comment until specialists complete an investigation into the cause of the outage.
“We are aware that some users may see a zero balance in their Coinbase accounts and, due to a technical error and poor site performance, may not be able to fully purchase or sell crypto assets.. Our team is investigating the issue and will provide an update shortly. User assets are safe,” Coinbase said in a statement to CNBC.
On February 6, Solana users encountered a failure in the blockchain. According to the network, transaction processing was stopped for five hours. The cause of the failure was identified as a problem with the cluster.