Coinbase and bitcoin logos appear on a phone screen in San Anselmo, California, February 15, 2024.
Justin Sullivan | Getty Images
Coinbase's app suffered a glitch on Wednesday, leaving many users with zero balances when opening accounts.
Bitcoin, which had just soared to its highest price since November 2021, lost about $2,800 (more than 4%) in just a few minutes just after noon ET as reports of the outage spread on social media platform X and elsewhere.
“We are aware that some users may see zero balances across their Coinbase accounts, resulting in errors when buying and selling,” Coinbase said in a statement to CNBC. “Our team is investigating this matter and will provide an update soon. Your assets are safe.”
Coinbase advised users to check the outage on its status page https://status.coinbase.com/incidents/qlpwww1zsm2y.
One user sent CNBC a screenshot showing his account balance at $0.00. He immediately received a notification titled “Site Performance Degradation” informing him that the company was looking into the issue.
Bitcoin has been soaring in recent days, topping $60,000 on Wednesday for the first time since 2021, bringing its total market capitalization to almost $1.2 trillion.
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