Coinbase services seem to be back up and running after users reported seeing incorrect account balances due to a bug. The bug occurred during a surge in the price of Bitcoin between 5:00 pm and 6:00 pm UTC on February 28. Many users took to social media to share their concerns about their accounts showing a zero balance. However, Coinbase has assured users that their funds are safe.
At the time of publication, the price of Bitcoin had dropped to $61,400 after briefly reaching above $64,000. Similarly, Coinbase’s COIN stock experienced a similar trend, reaching $211 per share before falling back to $202.
The cause of the bug is still unknown, but some users have noted that Coinbase has had technical issues in the past. Customer support avenues such as phone and virtual assistant support are currently unavailable.
Approximately 30 minutes after acknowledging the issue on social media, Coinbase updated its user interface to display a banner informing users that the issue is ongoing and being investigated. Cointelegraph has reached out to Coinbase for comment but has not received an immediate response.
Traders are anticipating a new all-time high for Bitcoin before the halving, as the price continues to rise.