- Coinbase US bank accounts were affected by a major outage Sunday morning.
- The company assured account holders that their “funds are safe”.
- Every coin supported by the platform was still fully tradeable, except for Solana.
People with US bank accounts who had Coinbase accounts were unable to make transactions on Sunday morning.“We are currently unable to take payments or make withdrawals involving US bank accounts,” the company said on its status site. “Our team is aware of this problem and is working to fix things as soon as possible.”
The company said that it is working on a fix and that the problem is “failed ACH withdrawals, deposits, and buys.” The Automated Clearing House Network, or ACH, is a way for banks in the U.S. to send money to each other electronically.
The company made it clear that affected users of the platform can still make direct purchases with a debit card or PayPal account.
The problem with U.S. bank accounts was called a “Major Outage” on Coinbase’s help page. Every coin supported by the platform was still fully tradeable, except for Solana, which had its own outage Friday night and was experiencing “Degraded Performance.”
Later, the official support page for Coinbase on Twitter sent out a message assuring account holders that their “funds are safe” and saying that more information will be given when service is back up and running. When asked for a comment, Coinbase pointed Decrypt to the following tweet from Coinbase Support:
We are having technical problems right now with making ACH transfers. Don’t worry, your money is safe. When full functionality is back, our team will let you know here and on our Status Page: https://t.co/a3pl4WiDhZ
As of 11:30 a.m. EST on Sunday, the problem still hadn’t been fixed.
CoinGecko says that in the last 24 hours, Coinbase exchange has seen nearly $569 million worth of trades. More than half of that volume was made up of BTC and ETH, and SOL came in second with 4%, or $23 million.