Coinbase just faced a major disruption. An AWS outage forced its markets into “cancel only” mode.
However, the exchange said trading will begin to re-enable shortly.
AWS outage hits Coinbase and other platforms
Amazon’s cloud unit confirmed the issue on Friday. The company is working to restore normal temperature levels at its Northern Virginia data center.
This problem has impacted Coinbase and other websites.
According to Amazon Web Services, “We are observing early signs of recovery. We continue to work towards restoring temperatures to normal levels and bring impacted racks back online in the affected Availability Zone (use1-az4) in the US-EAST-1 Region.”
The update came on Friday at 5:11 am UTC.
How the AWS outage hits Coinbase customers
The outage notably affected the crypto exchange. Coinbase said customers were experiencing “degraded performance.”
FanDuel, an American gambling company, also reported impacts.
As a result, some Coinbase customers could not transact on the web or mobile app.
When will trading resume?
Coinbase assured users that its teams are working to restore functionality. Most importantly, customer funds remain safe.
“We will begin the process to re-enable trading on our markets shortly,” Coinbase said. “All markets would be placed in ‘Cancel Only’ mode before we move to re-enable trading.”
So, expect a brief hold. Then trading will return.