Users Report Zero Balances Amid Bitcoin Surge as Coinbase App Glitches

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.

Coinbase assures the safety of assets.
Users alarmed by sudden balance errors, Coinbase assures the safety of assets.

“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.”

Bitcoin surges past $60,000
Bitcoin surges past $60,000 despite technical issues, market cap nears $1.2 trillion.

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.

Sajda Parveen
Sajda Parveen
Sajda Praveen is a market expert. She has over 6 years of experience in the field and she shares her expertise with readers. You can reach out to her at [email protected]
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