Coinbase users are reporting that their accounts are showing a “zero balance” on Wednesday afternoon. Coinbase confirmed the problem on its status page at 12:40 p.m. ET but claims customer cryptocurrency funds are safe. This comes as Bitcoin’s price surged nearing its all-time high.
“We are aware that some users may see a zero balance across their Coinbase accounts and may experience errors in buying or selling,” said Coinbase’s status page. “Our team is investigating this issue and will provide an update shortly. Your assets are safe.”
Coinbase first reported that it was aware of “transaction delays” at 12:24 p.m. ET on Wednesday. It emphasized that users’ assets are secured.
It’s unclear at this time what the cause of the outage is, but it appears to be widespread. Downdetector showed a spike in Coinbase outages starting around noon ET on Wednesday. At least 9,000 customers are reporting outages, according to Downdetector.
Users took to social media to express their concern about the cryptocurrency exchange’s outage on Wednesday.
“Anyone else’s Coinbase account at zero?” wrote one user on X.
“Mine just went to zero, the help center won’t even load,” wrote another.
Gizmodo has reached out to Coinbase and will update with more information when we hear back.