Coinbase experienced a 70-minute service disruption on September 21. The outage coincided with Bitcoin’s price surging above $85,000.
The failure disabled the company’s website, mobile applications, and Advanced Trade platform. Users could not buy, sell, trade, or view account balances during the event.
The market simultaneously faced a massive short squeeze and high volatility. Liquidations of short positions exceeded hundreds of millions of dollars across the industry.
Coinbase restored services after implementing a fix. The company confirmed all customer funds remained safe throughout the disruption.