The
company's CEO Brian Armstrong warned users of the cryptocurrency
trading platform that future outages on its app and mobile site might
occur during periods of high trading volume.
"We
wanted to remind customers that access to Coinbase services may become
degraded or unavailable during times of significant volatility or
volume," Armstrong wrote in a Medium post Friday. "This could result in the inability to buy or sell for periods of time."
The price of bitcoin
soared by $3,000 on its GDAX exchange platform Thursday to $19,500 in
under three hours during a wild trading session. Customers experienced
downgraded service during this period and couldn't log into their
accounts. This isn't the first time Coinbase has experienced issues
during periods of high volume. When bitcoin soared over $11,000 per coin
in November, Coinbase experienced a "partial system outage," during which time many users found themselves locked out of their accounts.
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