Coinbase showing 0 balance - what is it?

Coinbase is currently experiencing some technical difficulties with users reporting a zero balance on their accounts. The company has acknowledged the issue and stated that they are investigating the matter to provide further updates. Despite the balance display errors and issues with buying or selling, Coinbase reassures users that their assets are secure. The incident is being tracked on statuscoinbase.com for real-time updates.

The degraded performance is evident both on the website and the mobile app, with reported problems related to transfers and trading suspensions. This service disruption is likely due to the increased traffic caused by the recent spike in Bitcoin prices, affecting website functionality and various trading features such as spot futures and perpetual futures. As a result, Coinbase's overall service may be temporarily impaired.

While Coinbase is addressing the technical glitches, it is important to note that there is no evidence of asset theft. The company is working to resolve the issues promptly, although some users are still encountering problems. However, some users have reported that their balances have been restored, indicating progress in resolving the situation.

It is expected that Coinbase will resolve the balance display discrepancies and restore full functionality to its platform soon. Users are advised to stay updated on the official status page and monitor any announcements regarding the ongoing situation.