According to a status report issued by Coinbase on Sunday, transactions from US clients have been temporarily suspended. The problem prevents users with US bank accounts from making withdrawals, deposits, or purchases on the platform.
Coinbase said in the statement:
“We are currently unable to take payments or make withdrawals involving US bank accounts. Our team is aware of this issue and is working on getting everything back to normal as soon as possible. You may use a debit card or PayPal account to make direct buys on your account should you wish.”
An hour after the initial alert, Coinbase sent two updates stating that the matter was being investigated. The exchange said at 12:23 p.m. UTC that the transaction problem had been found and that a fix was being applied.
The company claimed it is working on a resolution and described the problem as “ACH withdrawals, deposits, and buys failures.” ACH, or the Automated Clearing House Network, is a mechanism for electronically moving cash between bank accounts in the United States.
Affected platform customers may still make direct transactions using a debit card or PayPal account, according to the company.
The official Coinbase support page on Twitter later issued a message assuring account holders that their “funds are secure,” adding that it will give more information when functioning is restored.
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