Cryptocurrency exchange Coinbase has fixed a technical issue that was preventing users from displaying their account balance.
Apps are now recovering.
We had modeled a ~10x surge in traffic and load tested it. This exceeded that number.
It's expensive to keep services over-provisioned, but we'll need to keep working on auto-scaling solutions, and killing any remaining bottlenecks. Thank you for… https://t.co/JXVppV57AF
— Brian Armstrong 🛡️ (@brian_armstrong) February 28, 2024
According to company CEO Brian Armstrong, the problem arose against the backdrop of a “huge” influx of users. During this time, market participants could not buy and sell assets.
According to website to monitor the state of the platform, problems with Coinbase began on February 28 around 13:00 Kyiv (14:00 Moscow time). The error was corrected only after 12 hours.
At the time of writing, the price of the first cryptocurrency is $62,800 with a trading volume of $100 billion, according to CoinGecko.
Source: Cryptocurrency
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