Coinbase Fixes Issue Of 'Failing Trades' After Outage Amid Crypto Crash Angers Users

Coinbase Global Inc COIN said it has now fully resolved the issue of failing trades on its platform. 

What Happened:A number of Coinbase users reported that simple trades on the crypto exchange were not being processed on Tuesday. Some users also said that they were unable to withdraw their cryptocurrencies from the platform.

In a Twitter update, Coinbase Support acknowledged the issue of some trades “intermittently failing” and said their team had already implemented a fix. In a follow-up tweet, the exchange announced that the issue had been fully resolved.

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We’ve fully resolved this issue and simple trades on https://t.co/ohqDivlp6Y are processing normally. We apologize for the inconvenience. https://t.co/1YhYPunYg0

— Coinbase Support (@CoinbaseSupport) September 13, 2022

Why It's Important: Still, many users criticized the fact that the outage occurred at a time when the crypto market was in the middle of a sharp downturn. 

US inflation data sent markets into turmoil as trader sentiment weakened following disappointing CPI numbers. Bitcoin BTC/USD plunged from ahead of $22,000 to a low of $20,062 on Tuesday, followed by Ethereum ETH/USD, Dogecoin DOGE/USD and several other leading cryptocurrencies. 

Funny how your problems always seem to occur during sell-offs and rallies…

— g35junkie (@g35junkie) September 13, 2022

Hard to laugh when all of your $ is stuck in coinbase while your living expenses are inflating at 8% per year

*COINBASE: INVESTIGATING ISSUE OF TRADES INTERMITTENTLY FAILING

— 1 Main Capital (@1MainCapital) September 13, 2022