A major cryptocurrency exchange, Coinbase, experienced a major outage on May 14 at 4:15 am UTC, rendering its services inaccessible on both desktop and mobile platforms.
Coinbase Support admitted the problem in a May 14 post on X (formerly Twitter) and told the users that they are investigating and working on a solution. They also stressed that the users’ money is secure.
Users trying to access the site faced a “503 Service Temporarily Unavailable” error, typically signaling server maintenance or overload, per the Mozilla developer guide.
At the beginning of this year, on February 28, Coinbase also suffered from the same outages as a result of the Bitcoin flash crash, which caused huge trading activity. These outages are frequent during peak traffic, and some crypto fans regard them as indicators of the growing interest in the market.
Coinbase’s outage shows the necessity of a strong server infrastructure in crypto exchanges to avoid disruptions and ensure user trust.
Also Read: BlockFi Partners with Coinbase for Client Crypto Withdrawals
