Major United States-based cryptocurrency exchange Coinbase is experiencing “elevated error rates on some backend systems due to an AWS service outage,” according to an official post on Nov. 25 shortly after 7:00 pm PST.

In an announcement posted nine hours prior, Coinbase said that trading was not being impacted at the time. The following update removed this statement, stating:

“You may encounter intermittent delays or errors while transacting, as well as accessing other parts of our applications. Customer support inquiries are also delayed.”

The AWS issue has had a significant impact on the tech sector more broadly, with platforms such as Adobe Spark, Flickr and online newspapers all being affected within the last 24 hours. Headlines have run with claims the outage has taken “a portion of the internet down” and “hobbles businesses.”

Within the narrower context of Coinbase’s performance, this latest outage is not something entirely new. As reported, between March and November of this year alone, the platform recorded nine separate issues that led to different types of outages or connectivity issues of varying severity. Widespread discontent prompted Coinbase CEO Brian Armstrong to respond publicly.

As of press time, Armstrong has not tweeted regarding the latest incident with AWS and its impact on services. Just two days ago, amid major volatility in XRP’s price, the exchange was also reported to be experiencing problems, even though its official status page indicated that operations were running smoothly.

Updated: 12-16-2020

Binance And Coinbase Suffer Outages As Bitcoin’s Price Soars

Bitcoin’s much-anticipated break past $20,000 caused a spike in crypto exchange traffic.

Both Binance and Coinbase suffered technological issues on Wednesday — the same day Bitcoin (BTC) crossed the $20,000 price threshold for the first time. Binance related its issues to the number of people surfing the exchange.

Changpeng Zhao, or CZ, Binance’s CEO, tweeted on Wednesday at 2:13 pm UTC:

“#Bitcoin just popped. Experienced some scaling issues. Should be fixed for now. Underestimated demand. Adding A LOT more ‘servers’ still.”

An update from CZ came about half an hour later, revealing improvements, as well as a dramatic surge in users on the platform.

“Still some latency issues here and there. Working on it, all hands on deck,” he tweeted, adding: “Bitcoin goes up 5%, traffic goes up 30x.” By 2:56 pm UTC, CZ noted the situation as resolved.

Bitcoin broke above $20,000 for the first time ever at 1:42 pm UTC on Dec. 16, reaching a price near $20,800 by 2:14 pm, according to data.

At 2:45 pm UTC, Coinbase also reported issues via its status page. “ is experiencing connectivity issues,” the exchange posted. The exchange said that the problem was resolved at 4:27 pm.

Coinbase has a history of technical difficulties during periods of high traffic, commonly referencing “connectivity issues” as the cause. Brian Armstrong, Coinbase’s CEO, recently said the exchange is working toward solutions for handling high website engagement.

Updated: 1-7-2021

Bitcoin Breaks Records, And The Exchanges Where It’s Traded

Cryptocurrency platforms have experienced disruptions coinciding with rapid price increases throughout the past year.

Bitcoin’s historic rally is causing growing pains for the platforms where it’s traded, leaving investors unable to buy or sell the digital currency for hours at a time.

As Bitcoin surpassed $40,000 for the first time on Thursday, the most widely used cryptocurrency platform was buckling under pressure. Coinbase said it’s investigating connectivity issues on both its web and mobile apps.