Coinbase has fixed an error in displaying user balances

Last week, exchange users also faced problems with depositing and withdrawing funds

Coinbase has fixed an error in displaying user balances

The American crypto exchange Coinbase has reported problems with the user interface for the second time in less than a week. So, some users encountered incorrect display of account balances: the exchange showed a zero balance, which was not true. The failure occurred after the bitcoin exchange rate increased 7.5% on March 4, approaching the $67,000 mark.

The company stated that the problem affected a small group of users and represents only a distortion in the display of balances, and the funds themselves are safe. Later, Coinbase announced the release of a fix and correction of the error.

The problem was noticed by the New York State Department of Financial Services (NYDFS), which is the regulator of Coinbase. Officials said they are in constant contact with controlled companies to assess disruptions and vulnerabilities in their work that pose risks to consumers and the firms themselves.

The probable cause of the failure was a sharp influx of traders to the exchange due to the growth of the first cryptocurrency exchange rate. Coinbase reported that the platform's traffic last week was 10 times higher than the average.

On March 2, the exchange also experienced a malfunction, as a result of which there was a deterioration in trading performance, as well as errors in depositing and withdrawing funds. On the same day, the problem was fixed, and the company assured of the safety of user assets.


Read More