Coinbase ‘on top of it’ despite withdrawals not processing

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—by Protos Staff

Coinbase users claim they can’t withdraw their funds from the world’s second largest exchange despite it announcing it had ‘fully recovered’ after a system-wide outage.

The platform suffered the three-hour-long outage on Monday but in the early hours of Tuesday, it claimed to have resolved the problem and apologized for the inconvenience. 

However, a slew of users on X (formerly Twitter) have responded to the recovery announcement claiming that they still can’t withdraw their funds. 

According to one user, “It’s not fixed, withdrawals are not available!!,” while another posted “@X can we get community notes here. This tweet is false as millions of people are still unable to withdraw or transfer their assets.”

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Coinbase told users, “We are aware that some users may still experience issues while sending cryptocurrency or withdrawing fiat. Our team is on top of it.”

The latest ‘degraded transactions’ update from the exchange’s status page was posted at 02:58 PDT, and said, “We are continuing to investigate this issue.”

When asked to explain the situation, Coinbase told Protos, ”Some users may still experience failures when sending crypto or withdrawing fiat.

“We are continuing to investigate this issue and will provide an update shortly. Rest assured, funds are safe.” Coinbase failed to comment further on what caused the previous outage. 

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