Coinbase, the largest cryptocurrency exchange in the US, has been experiencing an outage for approximately five hours.
Coinbase stated in a press release that some users experienced “performance degradation.” This disruption was attributed to an overheating incident at an Amazon Web Services (AWS) data center in Northern Virginia.
Coinbase stated, “We will begin the process of reactivating trading on our markets shortly.”
The stock exchange stated that they were aware of the problem and were working on a solution.
“We understand that due to the AWS outage, our customers are currently experiencing performance degradation and may be unable to trade on the Exchange. Our team is investigating this issue and will provide you with an update. Your funds are safe.”
We will begin the process of reactivating trading in our markets shortly. Before reactivating trading, all markets will be placed in “Cancel Only” mode.
*This is not investment advice.