Coinbase website down as crypto exchange cites ‘system-wide outage’
United States crypto exchange Coinbase has suffered a „system-wide outage“ rendering its services unusable for those looking to access the crypto exchange odesktop or mobile.
Coinbase notified users of the outage on its official status page, sharing that a „major outage“ began at 4:15 am UTC on May 14.
Attempts to visit the website currently shows a “503 Service Temporarily Unavailable” error message. According to a developer guide found on Mozilla, the most common cause is that the servers are down for maintenance or that is overloaded.
Coinbase Support’s official X shared news of the outage in a May 14 post to X, saying they were investigating the issue and working on a solution. It reiterated that users‘ funds are safe.
Coinbase is experiencing a system wide outage. We are investigating this issue and working on a solution. Please see https://t.co/a3pl4WiDhZ for updates. Your funds are safe.
— Coinbase Support (@CoinbaseSupport) May 14, 2024
On Feb. 28, Coinbase — along with several other exchanges — suffered temporary outages stemming from a rapid uptick in crypto trading activity.
While outages are frustrating for users of crypto exchanges, pundits on Crypto Twitter often use these outages as a way of spinning up a bullish narrative — claiming that the peaks of activity that cause the downtime are ultimately good for price.
This is a developing story, and further information will be added as it becomes available.
