Coinbase CEO Addresses User Concerns After Wallets Reset to Zero During Bitcoin Price Soar

Wednesday, 28 February 2024, 21:39
In a surprising turn of events, Coinbase users faced their wallets being reset to $0 during a peak in Bitcoin's price. CEO Brian Armstrong reassured users by attributing the incident to a significant surge in traffic as Bitcoin crossed the $60,000 mark. As users expressed panic on social media, Armstrong attempted to provide clarity and calm amid the chaotic situation.
https://store.livarava.com/b56ca532-d699-11ee-b896-5254a2021b2b.jpe
Coinbase CEO Addresses User Concerns After Wallets Reset to Zero During Bitcoin Price Soar

Impact of Coinbase Wallets Reset

A recent incident saw Coinbase users experiencing a sudden reset of their wallet balances to $0 during a peak in Bitcoin's price.

Causes of the Reset

  • The reset was attributed to a large surge in traffic during Bitcoin's surge past $60,000.
  • Many users took to social media to voice their concerns and frustrations.
  • Coinbase CEO Brian Armstrong acknowledged the issue and tried to assure users that their funds were safe.

In a statement, Armstrong emphasized the technical challenges faced by the platform during the period of high demand.

Do you want to advertise here? Contact us

Related posts

Do you want to advertise here? Contact us
Do you want to advertise here? Contact us
Newsletter

We carefully select news from the world of finance and publish it for our users. We understand the importance of reliable and up-to-date information for people in the financial world. Do you want to receive news in a convenient format and always have it at hand — subscribe to our newsletter and make your analytical work more effective.

Subscribe