Coinbase down or hacked? 07.12.2017

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coinbase down

coinbase down

Popular cryptocurrency exchange Coinbase is having a rough today morning amid bitcoin’s huge gain in price. The engineering team was trying to get exchange platform back up after the company’s site was knocked offline, overwhelmed by a wave of incoming traffic. The number of visitors was double what it had been during the previous peak and eight times what it had been in June. Currently, the website is down but there is a conversation with users in social media.

Coinbase is not hacked

With bitcoin’s popularity and price surging, Coinbase has struggled to cope with a flood of novice traders. The company said via Twitter that its service is “currently experiencing record high traffic” that is “resulting in some customers having slow performance or issues logging into their accounts.”

The exchange has had several large-scale outages in the last few months, including this week, after BTC prices surged above $11,000 and then crashed back down around $9,000. Also, on Wednesday, many Coinbase users found themselves locked out of their accounts and unable to trade. Probably it was not hacked.

Coinbase explaining

Coinbase tweeted that “We are currently experiencing record high traffic. This is resulting in some customers having slow performance or issues logging into their Coinbase.com accounts. We are actively working to resolve this as quickly as possible.”
Coinbase said it is trying to resolve the problem, but it did not say when it would be fixed. last time, Coinbase has announced that they will continue to grow their customer support team in order to provide better support to their burgeoning clientele. The cryptocurrency exchange will have 16 times more agents for support by the end of 2018 as they did at the beginning of 2017. They will also begin providing phone support 24 hours a day.

Intensive work is underway to restore the system. There is probably no reason to worry