The second largest cryptocurrency exchange user wallet unexpectedly showed a value of 0 USD when Bitcoin hit the $60,000 mark.
According to the New York Post, Coinbase users were thrown into panic on February 28 after discovering that all the money in their wallet accounts had suddenly vanished. “I had $3.6 million in Coinbase but now my account is at $0,” renowned investor Ash Crypto wrote on X along with a screenshot of their account.
“What is happening? It feels like I just had a heart attack,” Reddit user Finn wrote.
“My account had $240,000, but when I checked, it was just under $200. What should I do? I’m really worried because this is my personal savings,” user X Terry shared.
On X, the hashtag #CoinbaseWallet is becoming popular. Many people are expressing anxiety as tens of thousands, even millions of dollars in their accounts suddenly disappear or sharply decrease.
On the company’s website, Coinbase asserts that users’ assets remain secure. The displayed discrepancies are merely display errors. Approximately two hours after the incident, a Coinbase representative stated that the platform is “beginning to see improvements in transactions.”
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