Coinbase Global announced on Wednesday that all services on its website have been fully restored following an earlier issue that led some users to witness a zero balance on their accounts.
In a social media post on X, the crypto exchange stated, “Very few customers may still see an inaccurate balance on their account. Our team is working on resolving this display issue for these users.”
Earlier in the day, Coinbase had reassured its customers about an improvement in trading conditions and emphasized the safety of their funds.
This incident occurred as Bitcoin surged past $60,000 for the first time in over two years, driven by increased capital inflow into new U.S. spot bitcoin exchange-traded products, fueling a price rally throughout February.
Traders have been flocking to bitcoin in anticipation of the upcoming halving event in April, designed to slow the release of the cryptocurrency.
Coinbase CEO Brian Armstrong acknowledged the challenges, stating in a separate post on X that the platform was contending with a significant surge in traffic. At its peak on Wednesday afternoon, user reports of issues had surpassed 9,000, according to Downdetector.
The Coinbase team is actively addressing the concerns to ensure a smooth user experience for all.
