Bitcoin’s recent surge to $60,000 has caused problems for Coinbase, the popular crypto trading app. Some users are reporting a zero balance in their Coinbase accounts, but the company has reassured customers that their assets are safe and they are working to resolve the issue. The surge in demand for Bitcoin, driven by the introduction of U.S. bitcoin spot ETFs, has led to a 42% price rally this month. This has sparked renewed interest in platforms like Coinbase, but the increased traffic has caused technical issues for the app.
Users logging into Coinbase today were surprised to find their accounts showing a zero balance, despite owning cryptocurrency assets. The company has acknowledged the issue and is actively working to fix it. The timing is unfortunate as many casual investors have returned to the crypto market only to find their accounts empty.
Coinbase’s tech support channel has been responding to users with standard troubleshooting steps, but the company has now acknowledged the issue on their Status page and is working to resolve it. Despite increased latency and wait times, Coinbase has reported improvements in customer trading and login experiences. However, some customers may still encounter errors due to the high volume of traffic on the platform.
As of the latest update, customer login has recovered, and the app is seeing improvements in trading activity. The company continues to monitor the situation as they work to address the issues caused by the surge in Bitcoin value.
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