- Dennis Porter tweeted on the fixation of Coinbase’s technical issues.
- Coinbase encountered technical issues that restricted users from transactions.
- After some hours, the company announced that it had resolved the issue.
Dennis Porter, CEO and co-founder of Satoshi Action Fund tweeted that crypto exchange Coinbase fixed the technical issues that halted payments and transactions temporarily from US banks. He was excited to comment that bitcoin payments cannot be halted any more.
#Bitcoin payments can’t be halted. pic.twitter.com/BY3P3maM0Z
— Dennis Porter (@Dennis_Porter_) October 3, 2022
On October 2, Coinbase stopped transactions as the company encountered an issue that prevented it from processing withdrawals or deposits involving US bank accounts. The company announced that the team was working to resolve the issue to bring everything “back to normal as soon as possible”.
However, Coinbase tweeted that users can still buy cryptocurrencies using a debit card or PayPal account. The company assured that after detailed scrutiny of the issue, it would come back with a solution to remove the hindrances.
The company also took initiative to inform its nervous traders that their funds are “safe”:
We’re currently experiencing technical issues 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.
On the same day, after three hours, at 12:41 pm ET, Coinbase announced that the “incident has been resolved”. The company said that they had completely resolved the problem and that the ACH transfers were processing.
Recently, several traders complained about the inaccuracies in their transactions in Coinbase. They complained that some server issues were restricting them from accessing their accounts.
The company extended its apologies to the traders for halting their transactions. However, the traders were ambiguous about the technical issues faced during Solana transactions. Some of the tweeters commented that they had been waiting for many days to make Solana transactions on Coinbase.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
