Crypto exchange Coinbase hit by connection problems as bitcoin plummets

Bitcoin

Cryptocurrency exchange Coinbase has said its retail and professional-focused platforms have been hit by tech issues, with customers reporting problem trading as bitcoin plunged towards its biggest one-fifth fall since September.

California-based Coinbase said on its website at 14:14 GMT it was investigating connectivity difficulties, adding at 14:42 GMT it had identified the issue and implemented a solution.

In another article at 15:21 GMT on its Coinbase Pro site it said “increased latencies impacting order entry and settlement” because of its Coinbase Pro support, adding it had been investigating the problem.

A spokesman for Coinbase, one of the biggest cryptocurrency exchanges, declined to comment.

Coinbase users Twitter reported issues trading.

At this time the order finally went through but I missed the price for now.”

Bitcoin, the planet’s biggest cryptocurrency, slumped up to 13%  on Thursday to its lowest since November the 16th, slamming the brakes on its own red-hot rally and sparking a sell-off of smaller coins.

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It was last down 9 percent at $16,904 and on course for its biggest one-way drop because Sept 3. The movement represents a sharp correction from its own three-year high of its near-record $19,521 hit Wednesday.

The team at Platform Executive hope you have enjoyed this news article. Initial reporting via our official content partners at Thomson Reuters. Reporting by Jonathan Landay. Editing by Steve Orlofsky.

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