Users Of Coinbase See a $0 Balance Following a Malfunction In The Crypto-Trading App

(CTN News) – When opening a Coinbase account on Wednesday, many users were unable to see their balances due to glitches in Coinbase’s app, which caused many users to end up seeing a zero balance.

As a result of the outage, bitcoin’s price, which just spiked to its highest value since November 2021, immediately fell by around $2,800, or over 4%, in the matter of minutes, shortly after noon eastern time, as reports of the outage spread on social media platforms X and elsewhere.

According to Coinbase, “We are aware that some Coinbase users may see a zero balance across their Coinbase accounts, and may experience errors while buying or selling cryptocurrency,” Coinbase said in a statement.

I will provide an update on this issue as soon as possible as our team is investigating the issue. The assets you have in your possession are in good hands.”

According to status page, users can check on the outage of the system by clicking the following link:

It has been provided to us by a user who sent in a screen grab showing a balance of $0.00 in his account when he sent the screenshot.

It was as a result of this that he received a notice titled “Site Degraded Performance,” informing him that the IT department was investigating the issue and would notify him once it has been resolved.

In the last few days, Bitcoin prices have been surging, crossing $60,000 for the first time since 2021 on Wednesday, reaching almost $1.2 trillion in the collective market capitalization of the cryptocurrency market.

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