Coinbase account holders with US bank accounts found themselves unable to transact on Sunday morning.
“We are currently unable to accept payments or make withdrawals involving US bank accounts,” the company said. says on her status site. “Our team is aware of this issue and is working to get everything back to normal as soon as possible.”
The company said it was working on a fix and identified the issue as an issue related to “failed ACH withdrawals, deposits and purchases.” ACH, or Automated Clearing House Network, is a system used to electronically transfer funds in the United States between bank accounts.
Affected users of the platform can still make direct purchases using a debit card or PayPal account, the company said.
Coinbase’s support page categorized the issue with US bank accounts as a “major outage.” Every coin supported on the platform was still fully tradable, with the exception of Solana, which was experiencing “degraded performance” due to its own outage on Friday night.
Coinbase’s official Twitter support page later issued a statement assuring its account holders that their “funds are safe,” adding that it will provide further information when the feature resumes. In response to a request for comment, Coinbase directed Decrypt to Coinbase Support’s tweet:
We are currently experiencing technical issues when creating ACH transfers. Rest assured, your funds are safe. Our team will provide an update here and on our status page when full functionality resumes: https://t.co/a3pl4WiDhZ
The issue was still unresolved as of 11:30 a.m. EST Sunday.
In the past 24 hours, Coinbase has seen nearly $569 million in trading volume on its exchange, according to CoinGecko. More than half of this volume consisted of BTC and ETH, followed by SOL at 4% or $23 million.
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