Coinbase Users With U.S Bank Accounts Face Major Outage

Coinbase Stock Falls to Record Low Following Sluggish Market
  • Coinbase has labelled the problem with U.S. bank accounts as a “Major Outage.”
  • The corporation has acknowledged the problem and says a remedy is on the way.

Transaction issues plagued Coinbase users on Sunday morning who had linked U.S. bank accounts. The corporation has acknowledged a problem with “ACH withdrawals, deposits, and buys failures,” and says a remedy is on the way. The Automated Clearing House (ACH) network facilitates electronic cash transfers between financial institutions in the United States.

The company said in its status section:

“We are currently unable to take payments or make withdrawals involving US bank accounts. Our team is aware of this issue and is working on getting everything back to normal as soon as possible.”

All Updates on the Support Section

The platform would still allow customers to make direct transactions using a debit card or PayPal account, the firm said. Coinbase has labelled the problem with U.S. bank accounts as a “Major Outage” on its support section. Except for Solana, which was suffering “Degraded Performance” owing to its own outage on Friday night, every supported currency was still completely trading.

Coinbase tweeted:

“We’re currently experiencing technical issues creating ACH transfers. Rest assured, your funds are safe. Our team will provide an update here and on our Status Page when full functionality resumes: https://t.co/a3pl4WiDhZ”

Following the outage, Coinbase’s official Twitter support page reassured users that their “funds are safe” and promised to send updates once the service was back up.

According to CoinGecko, in the last 24 hours, Coinbase’s exchange has witnessed approximately $569 million in trade activity. Bitcoin and Ethereum accounted for more than half of the total, with Sol accounting for the remaining 4%, or $23 million.

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