Cryptocurrency exchange Coinbase faced latency issues after the Amazon AWS outage. The exchange is struggling to get its services back after the Thursday hit.
Not connect to Bitcoin volumes
Outages and trading issues have become common for both traditional and cryptocurrency trading platforms in 2021, specially during high volume days. However, this time, the issues on Coinbase were not related to the Bitcoin bull run. The issues happened after Amazon’s AWS (Amazon Web Service) infrastructure faced an outage for multiple hours, affecting all services associated with it.
Coinbase commented on the issue on its status page and said,
“We are currently experiencing elevated error rates on some backend systems due to an Amazon AWS outage. You may encounter intermittent delays or errors while transacting, as well as accessing other parts of our applications. Customer support inquiries are also delayed.”
Customers displeased with lost opportunities
Coinbase customers were vocal about their displeasure with the outage and took to Twitter to narrate their experiences. They noted how the outage made them miss out on important activity during the Bitcoin bull run. Coinbase noted on its website that it is investigating the issues related to ID verification of some customers. It later noted that it had identified the issue and solved it.
Coinbase wasn’t the only popular service down because of the AWS outage. Roku, Adobe, and Flickr also experienced issues because of the same. All the services use AWS infrastructure. Amazon said that it has identified the issue and implemented a solution. However, Coinbase users continue to face problems. According to Down Detector, more than 100 users experienced problems with the Coinbase platform as they were locked out of their accounts.
Coinbase has reported multiple issues this year and most of its previous outages occurred right when the price of Bitcoin jumped. Users reported at least 9 instances this year when they were unable to trade during peak Bitcoin volatility.