Quick Take:

• Coinbase is currently facing a system-wide outage.
• The exchange assures users that their funds are secure.
• Coinbase is actively investigating the issue.

Cryptocurrency exchange Coinbase has reported a system-wide outage, prompting the company to launch an investigation into the matter. The exchange reassured its users that their funds are safe amid the disruption.

In a post on X, Coinbase acknowledged the outage and stated that its team is diligently working to resolve the issue. Despite the temporary inconvenience, the exchange emphasized the safety of user funds.

Visitors to Coinbase’s website are currently greeted with a “503 Service Temporarily Unavailable” alert, indicating the extent of the disruption.

This isn’t the first time Coinbase has faced technical challenges. In March, the exchange experienced temporary glitches on its trading platform during periods of high trading activity. Some users even reported seeing incorrect balance figures, showing $0 in their accounts.