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The leading US-based cryptocurrency exchange Coinbase is experiencing “high error rates on some backend systems due to an AWS service outage,” according to an official November 25 post shortly after 7:00 p.m. PST.
In an announcement released nine hours earlier, Coinbase said trading was unaffected at the time. The following update removed this statement, stating:
“You may experience intermittent delays or errors during the transaction, as well as accessing other parts of our applications. Customer support requests are also delayed. “
The AWS issue has had a significant impact on the tech industry more broadly, with platforms such as Adobe spark, Flickr and online newspapers all have been affected in the past 24 hours. Headlines grabbed the headlines with claims that the outage brought “part of the internet down” and “hampered business.”
In the narrower context of Coinbase’s performance, this latest outage isn’t something entirely new. As reported, between March and November of this year alone, the platform saw nine separate issues that led to different types of outages or connectivity issues of varying severity. Widespread discontent has prompted Coinbase CEO Brian Armstrong to respond publicly.
We are working hard to add additional capacity (both at the server and customer support level) to cope with the increased traffic. Thanks for your patience during this time. And thank you to the Coinbase team who work hard to serve our customers! Bull running can be exciting and stressful.
– Brian Armstrong (@brian_armstrong) November 18, 2020
At the time of going to press, Armstrong had not tweeted regarding the latest incident with AWS and its impact on services. Just two days ago, amid major volatility in the price of XRP, the exchange was also said to have experienced some issues, even though its official status page indicated that trading was going smoothly.
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