Coinbase, $COIN, crashes with users reportedly being shown a $0 balance as Bitcoin has hit $64,000

Coinbase, $COIN, crashes with users reportedly being shown a $0 balance as Bitcoin has hit $64,000.


Coinbase is facing challenges with delayed Ethereum and ERC-20 transactions. Its status website indicates that the exchange is aware of the issues and is investigating their cause.

To address concerns arising from speculation on social media, the exchange posted an announcement about the outage. Coinbase stated:

“We are aware that some users may see a zero balance across their Coinbase accounts & may experience errors in buying or selling. Our team is investigating this & will provide an update shortly. Your assets are safe.”

Speculation about the outage began after Bitcoin surpassed $60,000 on Feb. 28. Some users speculated that the outage could be due to dormant users returning to the platform amid the market rally.

Others suggested it could indicate a resurgence of retail interest in the market and the opening of new accounts, similar to the Coinbase outages in 2017, which were primarily caused by a surge of new users during the bull run. A few even raised concerns about a possible hack of the exchange.

Some users jokingly referred to it as a “rug pu