Coinbase experienced its second zero-balance bug in five days
Coinbase is currently a very powerful and popular trading platform. Coinbase recently experienced its second zero-balance bug in five days. Coinbase users faced some issues yesterday. Yesterday, users of the exchange site were unable to view their account balances for about three hours. Users of the exchange site failed to see the amount of money they had in their accounts for three hours yesterday. Because Bitcoin saw another rally to new yearly highs.
Crypto exchange Coinbase faced another problem yesterday. And due to this problem users of this exchange site see an empty balance in their account. However, following the issue, Coinbase authorities said that a small subset of users may see intermittent zero balances and page-wide latency across their Coinbase accounts. They also claim that users' trading during this period is not affected during this period. And also the authorities of the popular exchange site announced that a team of them is investigating the issue. And also Dada will provide an update soon by fixing or identifying the issue. And also they say that users' assets are safe.
Coinbase claims to have identified the issue late last night and implemented a workaround. Even when the problem appeared on this exchange site they claimed that they had observed the problem very well and identified the problem and even solved the problem effectively. And at the same time they announced that the assets of the users of the exchange are safe.
This kind of problem is not new, even a few days ago, just five days ago, this popular exchange site faced almost a similar problem. Even then its users saw zero balance in their accounts. Hey at that time the user could not do any trading. The company fixed the issue about seven hours after confirming its existence.
It is worth considering that such problems may be caused by outages possibly caused by traffic surges. However, Coinbase has yet to identify the cause of the recent incident even though such issues have reoccurred on the site. But it cited a surge in traffic as the reason for the incident late last month. In this regard, the popular exchange site authorities said that due to continuous high traffic, some customers may still see errors in receipts and some payment methods.
However, this exchange site has been experiencing such problems for a few days in a row. Yet the exchange saw $7.5 billion in trading volume over 24 hours, representing a 120% daily increase. Despite the resolution of both incidents, the data suggest continued demand. Besides, currently the price of Bitcoin is close to reaching the maximum height. So the high volume is likely tied to Bitcoin's exceptional price performance. Despite much speculation - ranging from positive to negative - about the root cause of the speculation, the problem is likely a side effect of sudden unexpected traffic amid the recent market rally, the popular exchange authority said.
This is the second time Coinbase platform is crashing, i seems not to fully understand the reason behind it. Many events set to unfold this bull run.
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Problems are the part of life for any technology company and I'm sure the exchange would be able to fix it soon because they must have got a big team having expertise on this.
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Where there is a lot of human error, mechanical problems are common. But the authorities have to pay attention to the fact that thousands of investors have millions of money or properties deposited here. They should fix this issue soon so that users can really feel safe.
Wow This is very important news for Crypto Currency! Thank you so much for sharing such important news with us!
This is very informative update,and I am very happy that I came in contact with this article
You are good review of coinbase