Crypto exchange Coinbase was hit Thursday with a prolonged outage that took down most of its services and is not yet fully back. However, this time the connectivity issues were not related to intense trading volumes or Bitcoin’s restless bull runs. Instead, the issues came as Amazon’s internet infrastructure service experienced a multi-hour outage that affected a large portion of the internet.
“We are currently experiencing elevated error rates on some backend systems due to an Amazon AWS outage. You may encounter intermittent delays or errors while transacting, as well as accessing other parts of our applications. Customer support inquiries are also delayed,” the exchange said on its status page.
Customers voiced their displeasure on Twitter about technical difficulties that hinder activity at Coinbase, as it prevented them from taking advantage of the Bitcoin activity.
Coinbase said yesterday on its website it was investigating issues with ID verifications for some customers, later adding that it had identified the problem and implemented a solution.
Outside the crypto domain, many popular web-based services that rely on Amazon’s cloud-computing service to function, like Roku, Flickr, and Adobe were also down.
Although Amazon said it had identified the root cause of the outage and had completed immediate actions to prevent a recurrence, Coinbase platforms still suffer tech problems.
EuropeFX Partners with Acuity for AI-Powered News Sentiment AnalysisGo to article >>
Down Detector reported more than 100 users experiencing problems with the service including being locked out of their accounts.
This is not the first time that the San Francisco-based crypto exchange has experienced technical failure, but previous outages came mostly in tandem with jumps in bitcoin prices.
This year alone, Coinbase users reported being unable to trade during these times of peak Bitcoin volatility at least nine times. The most notable incident came in March when the crypto community was gearing up for the bitcoin supply squeeze, known as a halving, which also caused trading to halt.
In most cases, not much of an update is given except for a message indicating that its retail and professional-focused platforms are experiencing ‘connectivity issues’.
This prompted some users to call for legal actions, signalling that there is something suspicious about when crypto markets are moving up, Coinbase goes down.