Cryptocurrency exchange Coinbase has experienced a ‘system-wide’ outage, leaving the platform temporarily unusable.
The United States crypto exchange Coinbase has suffered a “system-wide outage,” rendering its services unusable for users attempting to access the platform on desktop or mobile devices.
Coinbase notified users of the outage on its official status page, indicating that a “major outage” began at 4:15 am UTC on May 14.
Attempts to visit the website currently display a “503 Service Temporarily Unavailable” error message. According to a developer guide from Mozilla, the most common causes are server maintenance or overload.
Coinbase Support’s official X account shared news of the outage in a May 14 post, stating they were investigating the issue and working on a solution. They reiterated that users’ funds are safe.
On February 28, Coinbase—along with several other exchanges—suffered temporary outages due to a rapid uptick in crypto trading activity.
While outages are frustrating for users of crypto exchanges, pundits on Crypto Twitter often spin these incidents into a bullish narrative, suggesting that the high activity levels causing the downtime are ultimately positive for prices.
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