U.S. bank account holders who have Coinbase accounts were unable to make transactions on Sunday morning.
Coinbase stated: “We are currently unable take payments or make withdrawals involving US banks accounts,” stated company on its status website. “Our team is aware that this problem exists and is working to get everything back to normal as quickly as possible.
Coinbase have found the issue and is working on a fix.
According to the company, it is working on a solution and identified the problem as “ACH withdrawals and deposits and buys failures.”
The company clarified that affected users can still make direct purchases with a PayPal account or debit card.
Coinbase’s support page described the issue with U.S. banks as a “Major outage.” All coins supported by the platform were still available to trade, except Solana which was experiencing “Degraded performance” because of its own outage Friday night.
Later, Coinbase’s official Twitter support page released a statement reassuring account holders that their funds were safe and adding that it would provide additional information once functionality is restored. To respond to a comment request, Coinbase directed Decryptto this tweet from Coinbase Support.
As of Sunday, 11:30 EST, the issue was still not resolved.
According to CoinGecko, Coinbase saw nearly \$569 million in trading volume over the last 24 hours. BTC and ETH accounted for more than half of the volume, followed by SOL at 4% (or \$23 million).
