Coinbase Global (COIN.O) announced on Wednesday that all services on its website have been fully restored following an earlier issue that led some users to encounter zero balances across their accounts.
The cryptocurrency exchange added in a post on the social media platform X that: “Very few customers may still see an inaccurate balance on their account. Our team is working on resolving this display issue for these users,”
Coinbase reassured users after a technical glitch caused zero balances on accounts, linked to increased traffic following Bitcoin’s spike to $64,000.
Despite concerns of a hack, CEO Brian Armstrong assured funds were safe, attributing the issue to the traffic surge. Status updates acknowledged the problem, with improvements in trading but a lingering impact on functions. Coinbase activity gradually normalized, surpassing expectations, amid ongoing monitoring.
The recent trading frenzy followed Bitcoin’s surge, now slightly dipping but remaining above $61,000. The crypto community noted Coinbase’s past outages during market surges and similar challenges on other exchanges like Binance.
Looking ahead, bullish sentiments prevail with Bitcoin’s halving event expected in April 2024, prompting optimistic price predictions reaching as high as $21 million per Bitcoin.
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