Coinbase Faces Major Outage, Service Temporarily Unavailable
United States-based cryptocurrency exchange Coinbase faced a significant setback as it encountered a “system-wide outage,” disrupting access to its platform via desktop and mobile devices.
The disruption came to light through an official status update from Coinbase, indicating a “major outage” that commenced at 4:15 am UTC on May 14.
Users attempting to access the website are met with a frustrating “503 Service Temporarily Unavailable” error message, a common indicator of server issues, as outlined in Mozilla’s developer guide, which suggests maintenance or overload as potential causes.
Coinbase Support addressed the outage on its official channels, confirming the issue and assuring users that their funds remain secure. They promptly initiated an investigation into the root cause of the problem and commenced efforts to rectify the situation.
This recent incident recalls a similar disruption experienced by Coinbase and other exchanges on February 28. During a rapid surge in crypto trading activity, coinciding with a flash crash in Bitcoin’s price that led to a temporary 10% drop followed by a quick recovery, multiple platforms, including Coinbase, encountered temporary outages, according to Cointelegraph.
While such outages pose inconvenience to users, they often fuel a bullish sentiment among crypto enthusiasts on platforms like Crypto Twitter. Many see the influx of traffic, causing extended downtime, as a sign of increasing interest and adoption of cryptocurrencies.
