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Crypto Exchange Coinbase Fixes Technical Problem That Halted Payments and Withdrawals From US Bank Accounts
The exchange says the issue was identified and a solution was implemented.
By Eli Tan
Updated May 11, 2023, 4:22 p.m. Published Oct 2, 2022, 3:24 p.m.
Coinbase has fixed a technical problem that caused it to temporarily halt payments and withdrawals involving U.S. bank accounts.
The crypto exchange said on Sunday at 12:41 p.m. New York time (4:41 p.m. UTC) that the "incident has been resolved," according to its system status page.
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We’ve fully resolved this issue and ACH transfers are now processing. We apologize for the inconvenience. https://t.co/dezVgcaagm
— Coinbase Support (@CoinbaseSupport) October 2, 2022
A few hours earlier, the company had said that, for unspecified technical reasons, "we are currently unable to take payments or make withdrawals involving US bank accounts. Our team is aware of this issue and is working on getting everything back to normal as soon as possible. You may use a debit card or PayPal account to make direct buys on your account should you wish."
The issue was not the only problem in the broader crypto ecosystem this weekend. Solana suffered what it called a "major outage," one that lasted more than six hours, according to its website.
CORRECTION (Oct. 2, 2022, 15:43 UTC): Mention of Solana's network outage was unrelated to Coinbase and removed from the article.
UPDATE (Oct. 2, 2022, 15:52 UTC): Adds Solana's separate incident from this weekend.
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