Coinbase’s app encountered glitches on Wednesday, resulting in many users observing a balance of zero upon accessing their accounts.
Bitcoin, which had recently surged to its highest level since November 2021, experienced a drop of approximately $2,800, representing over 4%, within minutes after noon Eastern time as reports of the outage circulated on X and other platforms.
“We are aware that some users may see a zero balance across their Coinbase accounts and may experience errors in buying or selling,” Coinbase stated in a response to CNBC. “Our team is investigating this issue and will provide an update shortly. Your assets are safe.”
One user shared a screenshot with CNBC depicting a balance of $0.00 in their account. Shortly thereafter, they received a notification titled “Site Degraded Performance,” informing them of the ongoing investigation by the company.
Bitcoin’s recent surge has been notable, surpassing $60,000 on Wednesday for the first time since 2021, achieving a collective market cap of nearly $1.2 trillion.
