Coinbase users see $0 balance after crypto-trading app suffers glitch

The Coinbase and bitcoin logos are displayed on a phone screen in San Anselmo, California, on February 15, 2024.

Justin Sullivan | fake images

CoinbaseGoogle's app suffered glitches on Wednesday that led many users to see a zero balance when opening their accounts.

bitcoinwhich had just hit its highest level since November 2021, lost around $2,800, or more than 4%, in a matter of minutes shortly after noon ET when reports of the outage spread on the platform. social networks X and elsewhere.

"We are aware that some users may see a zero balance in their Coinbase accounts and may experience errors when buying or selling," Coinbase said in a statement to CNBC. "Our team is investigating this issue and will provide an update shortly. Your assets are safe."

Coinbase recommended users check the system outage on its status page: https://status.coinbase.com/incidents/qlpwww1zsm2y

A user submitted a screenshot to CNBC showing a balance of $0.00 in their account. He soon received a notice titled "Degraded Site Performance," informing him that the company was investigating the matter.

Bitcoin has been rising lately, surpassing $60,000 on Wednesday for the first time since 2021, reaching a collective market capitalization of nearly $1.2 trillion.

Coinbase posted an update on and with some payment methods". ".

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