Coinbase Zero Balance Error

Coinbase Assures U.S. Customers Amid Zero Balance Error

Coinbase Global has assured its U.S. customers that their assets are safe following a recent issue where some accounts were displaying $0 balances in error. This incident occurred on the same day that the price of Bitcoin, the world’s largest cryptocurrency, saw a significant surge to its highest level since late 2021, hitting $64,038 before settling at $60,961 in midafternoon trading, marking a 6.6% increase on Wednesday.

Investigating the Issue

Around 12:40 p.m. Eastern time, Coinbase issued a notice on its website addressing the situation, stating that they were aware some users were experiencing zero balances and errors with transactions. The exchange confirmed that they were actively investigating the matter to resolve it promptly.

Improvement in Customer Trading

An update was later posted around 2:30 p.m. Eastern, indicating that Coinbase was starting to witness improvements in customer trading activities. Despite ongoing high traffic levels, some users might continue to encounter issues with logging in, transactions, and certain payment methods. Nevertheless, Coinbase reassured customers that their funds remained secure.

CEO Acknowledgment

Coinbase co-founder and CEO Brian Armstrong acknowledged the challenges faced during this period of heightened activity, expressing apologies for any inconvenience caused and affirming that the team was diligently working to address the situation.

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