On Saturday, users of the American cryptocurrency exchange Coinbase encountered serious technical issues. Due to a "system-wide failure," access to the platform via desktops and mobile devices became impossible. The official status page of Coinbase reported that a "serious failure" occurred around 4:15 AM GMT on May 14.

Currently, attempts to access the site result in a "503 Service Temporarily Unavailable" error. This is often related to server maintenance or overload, as stated in the Mozilla developer guide.

A Coinbase support representative confirmed via the X platform that the company is actively investigating the issue and working on a solution. He also clarified that user funds remain secure despite the technical difficulties.

This is not the first time Coinbase has faced such issues. For instance, on February 28, the exchange also experienced temporary difficulties due to a surge in trading activity. Such incidents, although concerning for users, are often used by experts in the crypto community on Twitter as evidence that high market activity ultimately has a positive long-term impact on asset prices.