Coinbase Faces Extended Outages, Users Unable to Trade Shiba Inu

By Benzinga
Benzinga
Benzinga
October 29, 2021 Updated: October 29, 2021

Major crypto exchange Coinbase Global Inc. faced an extended outage on Wednesday.

According to the crypto exchange’s status page, Coinbase reported a serious outage on its Coinbase credit card and a partial outage of its crypto trading platforms Coinbase.com and Coinbase Pro.

“Trades and transactions may be delayed due to the ongoing issue. We’re all hands on deck to get this resolved as soon as possible. Stay tuned for updates,” said the crypto exchange.

Coinbase marked these “connectivity issues” as resolved as of 14:54 PT, but some people continued to experience technical issues on the platform much after, according to Downdetector.

There were reported unfulfilled buy and sell orders, particularly on Shiba Inu SHIB positions.

“Website down again, cannot trade SHIB, unbelievable … I placed a Sell order, and it disappeared, It doesn’t show on the orders history. Cannot trade at all. I tried withdrawal, and it shows 0 on every coin,” said one user.

Some market participants speculated Coinbase’s outage was caused by the unprecedented traffic from Wednesday’s Shiba Inu trading frenzy.

Shiba Inu gained 30 percent overnight with the coin extending a month-long rally that saw its price appreciate by more than 700 percent. Over the past year, Shiba Inu has rallied by more than 60,000,000 percent outperforming every major cryptocurrency.

By Samyuktha Sriram

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

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