Crypto exchange Coinbase Inc. (NASDAQ: COIN) suffered from a major outage Wednesday, with users reporting zero balances in their account as Bitcoin hit the $64,000 mark.
Coinbase CEO Brian Armstrong said the exchange was dealing with a "LARGE surge of traffic" and apologized for user inconvenience.
"We are aware that some users may see a zero balance across their Coinbase accounts & may experience errors in buying or selling. Our team is investigating this & will provide an update shortly. Your assets are safe," Coinbase tweeted.
At 2:29 p.m. ET Wednesday, Coinbase said it was beginning to see improvement in customer trading.
"Due to increased traffic, some customers may still see errors in login, sends, receives and with some payment methods. Rest assured your funds are safe," Coinbase said on its status page.
On X, formerly known as Twitter, Coinbase users satirized the crypto platform's technical problems.