Home » Coinbase suspends transactions from US customers

Coinbase suspends transactions from US customers

4th Oct 22 1:07 pm

Cryptocurrency exchange Coinbase has temporarily suspended deposits and withdrawals from US customers, CoinDesk learned from a status update the exchange published at 7:57 a.m. ET on Sunday.

The purported reason is a bug keeping US bank accounts from making purchases, deposits, and withdrawals on the platform.

At the time of writing, the coin iDEAL is unavailable and the exchange states they are working to remedy this as soon as possible. In addition, BSV withdrawals are unavailable due to difficulties in transaction processing, which Coinbase is investigating.

Users can still buy via PayPal or debit cards

Customers can still use debit cards or PayPal to purchase coins during the downtime, according to the statement, which reads as follows, “We are currently unable to take payments or make withdrawals involving US bank accounts. Our team is aware of this issue and is working on getting everything back to normal as soon as possible.”

According to a more recent update, the issue has been identified and they are implementing a fix, which is good news considering the woes that have befallen the exchange.

Solana suffers 6-hour outage

The wider crypto ecosystem also encountered another issue on Sunday. According to Solana’s website, it suffered a “major outage,” which continued for over six hours.

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