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Coinbase, one of the largest cryptocurrency exchanges globally, has <a href="https://status.coinbase.com/">acknowledged</a> a significant glitch within its system.&nbsp;
Users have reported seeing their account balances drop to zero, sparking widespread concern and confusion across the platform.&nbsp;
The issue, first identified earlier this Wednesday, has affected transactions across the board, including buying, selling, and transferring funds.&nbsp;
Coinbase has quickly responded to the problem, assuring its users that their assets are safe and that the team is actively investigating the issue to provide a timely resolution.
The glitch appears to be part of a broader issue affecting the site's performance, particularly transactions involving Ethereum and ERC-20 tokens, which are experiencing significant delays.
According to Coinbase CEO <a href="https://u.today/coinbases-armstrong-throws-veiled-shade-at-binance">Brian Armstrong</a>, the issues have been caused by a huge surge in traffic amid the ongoing cryptocurrency rally.&nbsp;
<blockquote>
 We are dealing with a LARGE surge of traffic - apologies for any issues you encounter. The team is working to remediate.— Brian Armstrong 🛡️ (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1762900467787645226?ref_src=twsrc%5Etfw">February 28, 2024</a>
</blockquote> 
&nbsp;The cryptocurrency community has responded with a mix of alarm and patience. Influencers and seasoned investors on the X social media platform have been quick to calm the nerves of the less experienced.
<blockquote>
 COINBASE IS SHOWING 0 ASSETS.TAKE A DEEP BREATH, YOU DIDNT LOSE ALL YOUR ASSETS. THIS HAS HAPPENED BEFORE. JUST BE PATIENT <a href="https://t.co/IsUaN3GmSS">pic.twitter.com/IsUaN3GmSS</a>— Tom Crown (@TomCrownCrypto) <a href="https://twitter.com/TomCrownCrypto/status/1762898417099956609?ref_src=twsrc%5Etfw">February 28, 2024</a>
</blockquote> 
Nevertheless, the incident has raised questions about the robustness of the cryptocurrency platform.

Zero Balance Alert on Coinbase: What Happened?

U_Today

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