United

United States-based crypto exchange Coinbase has suffered a “system-wide outage,” rendering its services unusable for those looking to access the crypto exchange on desktop or mobile.&nbsp;
Coinbase <a href="https://status.coinbase.com/" target="_blank" rel="noopener nofollow">notified</a> users of the outage on its official status page, sharing that a “major outage” began at 4:15 am UTC on May 14.&nbsp;
Attempts to visit the website currently show a “503 Service Temporarily Unavailable” error message. <a href="https://developer.mozilla.org/en-US/docs/Web/HTTP/Status/503" target="_blank" rel="noopener nofollow">According</a> to a developer guide found on Mozilla, the most common cause is that the servers are down for maintenance or that is overloaded.
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 <img src="https://s3.cointelegraph.com/uploads/2024-05/e6b3703e-ab81-4ffb-91ce-ca6a3e238f3e.png" alt="" title="">
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 Coinbase system outage notice. Source: Mozilla
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Coinbase Support’s official X account shared news of the outage in a May 14 post, saying it was investigating the issue and working on a solution. It reiterated that users’ funds are safe.
<blockquote class="twitter-tweet">
 Coinbase is experiencing a system wide outage. We are investigating this issue and working on a solution. Please see <a href="https://t.co/a3pl4WiDhZ">https://t.co/a3pl4WiDhZ</a> for updates. Your funds are safe.— Coinbase Support (@CoinbaseSupport) <a href="https://twitter.com/CoinbaseSupport/status/1790239326321733819?ref_src=twsrc%5Etfw">May 14, 2024</a>
</blockquote> 
On Feb. 28, Coinbase and several other exchanges <a href="https://cointelegraph.com/news/prominent-short-seller-citron-targets-coinbase-stock-after-exchange-outage">suffered temporary outages</a> from a rapid uptick in crypto trading activity during a Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) flash crash that saw the asset price&nbsp;fall nearly 10% before spiking back up.&nbsp;
While outages are frustrating for users of crypto exchanges, pundits in the crypto community on X often use these outages as a way of spinning up a bullish narrative — claiming the surges of traffic that cause extended periods of downtime are ultimately good for crypto.&nbsp;
Related:&nbsp;<a href="https://cointelegraph.com/news/gamestop-crypto-memecoin-rally-can-history-repeat-itself">GameStop sparked the 2021 memecoin bull run — will history repeat itself?</a>
Crypto trader Castillo Trading made the jest to his 73,000 followers on X, saying that a Coinbase outage was cause for a somewhat ironic celebration.
“Coinbase down. We are so back,” he wrote in a May 14 post to X.
<blockquote class="twitter-tweet">
 Coinbase down. We are so fucking back. <a href="https://t.co/sZaqdwELlA">pic.twitter.com/sZaqdwELlA</a>— Castillo Trading (@CastilloTrading) <a href="https://twitter.com/CastilloTrading/status/1790244310677659803?ref_src=twsrc%5Etfw">May 14, 2024</a>
</blockquote> 
Magazine:&nbsp;<a href="https://cointelegraph.com/magazine/meme-coins-betrayal-crypto-ideals-or-true-purpose/">Meme coins: Betrayal of crypto’s ideals… or its true purpose?</a>

Coinbase website down as crypto exchange cites ‘system-wide outage’

Cointelegraph

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