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 Coinbase experienced a significant setback earlier today, May 14, 2024, when it encountered a “system-wide outage” that made its services inaccessible to users on both desktop and mobile platforms.
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However, as indicated on its<a style="color: #0000ff;" href="https://status.coinbase.com/" rel="noopener noreferrer nofollow"> status page</a>, the crypto exchange’s website and other platforms, including mobile apps, are now fully operational. Notably, specific details about the cause of the outage were not disclosed.&nbsp;
The outage, <a style="color: #0000ff;" href="https://status.coinbase.com/" rel="noopener noreferrer nofollow">deemed</a> a “major outage” by Coinbase’s official status page, began at 4:15 am UTC. Visitors to the website got a “503 Service Temporarily Unavailable” error message, a common indicator of server downtime due to maintenance or overload, as per a website developer guide from <a href="https://developer.mozilla.org/en-US/docs/Web/HTTP/Status/503" rel="noopener noreferrer nofollow">Mozilla</a>.
In response to the disruption, Coinbase Support’s official account on X <a style="color: #0000ff;" href="https://twitter.com/CoinbaseSupport/status/1790239326321733819?t=046R9UuN5Oo76MWZthrwWQ&amp;s=19" rel="noopener noreferrer nofollow">announced</a> that they were investigating the issue and actively working on a solution. The platform assured users that their funds remained secure despite the inconvenience they might be experiencing.&nbsp;
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 “Coinbase is experiencing a system wide outage. We are investigating this issue and working on a solution. Please see status.coinbase.com for updates. Your funds are safe”,
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the platform noted.
This recent outage isn’t the first for Coinbase. On February 28, the exchange and several others <a href="https://twitter.com/CoinbaseSupport/status/1762899058060890556?t=Q6o5tS6kVjhs5w5ZHCVoPw&amp;s=19" rel="noopener noreferrer nofollow">experienced</a> temporary outages due to a surge in crypto trading activity during a Bitcoin flash crash.
Citron, an investment research firm founded by well-known Wall Street short-seller Andrew Left, also recommended short-selling Coinbase (COIN) stock in response to the exchange’s temporary outage on February 28 at time.
“The recent $COIN site malfunction makes the long Bitcoin/Short Coinbase trade one of the most compelling trades in the crypto market,” Citron <a style="color: #0000ff;" href="https://twitter.com/CitronResearch/status/1762952994306294000?t=IVjsefzEDenQY3kT8YXbvg&amp;s=19" rel="noopener noreferrer nofollow">wrote on a February 29 post on social media</a>, adding: “This means going LONG bitcoin through an ETF and short the bloated Coinbase exchange.”
However, the response to the recent outage has been less harsh. Crypto trader Castillo Trading humorously <a style="color: #0000ff;" href="https://twitter.com/CastilloTrading/status/1790244310677659803?t=O-iH_NzyII-9O7INaB1QKQ&amp;s=19" rel="noopener noreferrer nofollow">remarked</a> to his 73,000 followers on X that the Coinbase outage is a reason for a somewhat ironic celebration.
“Coinbase down. We are so back,” Castillo Trading wrote in a May 14 post on X.
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The post <a href="https://defi-planet.com/2024/05/coinbases-services-now-restored-after-system-wide-outage/" rel="noopener noreferrer nofollow">Coinbase’s Services Now Restored After System-Wide Outage</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Coinbase’s Services Now Restored After System-Wide Outage

DeFi Planet

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