On Sunday morning, Coinbase account users with U.S. bank accounts were unable to execute transactions.
“We are unable to accept payments or withdrawals from US bank accounts at this time,” the firm said on its status page. “We are aware of the problem and are trying to restore regular service as quickly as possible.”
The firm said that it was preparing a patch and described the issue as “failed ACH withdrawals, deposits, and purchases.”
According to Coinbase’s support website, the problem with U.S. bank accounts is a “Major Outage.” Despite Solana’s “Degraded Performance” because of its own downtime on Friday night, trading in all other coins handled by the platform remained unaffected and completely functional.
Later, the official support page for Coinbase on Twitter issued a message reassuring account users that their “funds are secure,” adding that it would offer further details when service is restored. In response to a request for comment, Coinbase referred Decrypt to the following tweet:
“We are presently having technical difficulties with ACH transfer creation. You may be confident that your money are secure. When normal service is restored, our staff will post an update on this page and the Status Page.”
According to CoinGecko, Coinbase’s exchange experienced approximately $569 million in transaction activity during the previous 24 hours. Over fifty percent of this volume comprised BTC and ETH, followed by SOL with 4% or $23 million.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.