Shock in the cryptocurrency exchange!
Coinbase, one of the world's largest cryptocurrency exchanges, experienced a technical issue on Wednesday that caused many users to see a zero balance when opening their accounts.
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Coinbase reset its users' balances due to a technical issue. Following the spread of this error on social media, the company's shares lost 4 percent of their value, while Coinbase stated the following in a statement to CNBC:
"We are aware that some users may see a zero balance across their Coinbase accounts and may experience errors in buying or selling. Our team is investigating this issue and will provide an update shortly. Your assets are safe."
One user sent a screenshot to CNBC showing a $0.00 balance in their account. Shortly after, they received a notification titled "Site Performance Degraded," informing them that the company was investigating the matter.
Bitcoin has recently been on the rise, surpassing $64,000 on Wednesday for the first time since 2021 and reaching a total market value of approximately $1.2 trillion.