Major outage on Coinbase, transfers and withdrawals blocked for six hours?
Defi and Exchanges

Major outage on Coinbase, transfers and withdrawals were blocked

The US platform Coinbase announced that it was facing a “major outage” of its internal systems. It suffered an incident that resulted in a freeze of all transfers and withdrawals. Users were unable to make transactions on US bank accounts for approximately six hours on Sunday.

Coinbase is a secure online platform that specializes in buying, selling, transferring and storing cryptocurrencies. The mission of this company is to create a financial system open to the whole world and to be the first global brand to help people convert their local currency (Euro, Dollar…) into digital currency (Bitcoin, Ether…) and vice versa.

We’ve fully resolved this issue and ACH transfers are now processing. We apologize for the inconvenience,” Coinbase wrote on Twitter.

The outage affected its ACH architecture. The ACH, or Automated Clearing House Network, is a U.S. system that allows inter-bank financial interactions and flows. Coinbase said on its status page that it had identified the problem at 8:23 a.m. and resolved it at 12:41 p.m. Sunday.

However, other means of financial interactions with Coinbase (Paypal, debit card) were not impacted.

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