Coinbase has announced the resumption of operations following a system-wide outage that affected its website, mobile app, and API for over three hours. However, some customers disputed this claim on social media, reporting that they were still unable to withdraw their funds. One user, Nigel Dias, shared his experience of encountering a prompt stating, "Sending to this recipient is temporarily disabled" when attempting to send crypto.

The outage began around 4:19 am UTC and was resolved by 07:42 am UTC, according to the status page. During the incident, Coinbase acknowledged that users experienced difficulties in sending crypto or withdrawing fiat, categorizing the service as degraded. The platform also mentioned that some customers might still face connectivity issues and thanked them for their patience.

Coinbase has not disclosed the reasons for the outage or any compensation plan for affected users. This outage is part of a series of disruptions experienced by the exchange in recent months, with 14 incidents logged this month, 29 in April, and 36 in March, according to its status page.

Coinbase's outage coincided with a drop in Bitcoin's price to as low as $61,400 from $62,660. However, the price has slightly recovered to $61,780 at the time of writing. Data from Coinglass showed liquidations of approximately $50 million over the past four hours, primarily from long traders.