Coinbase temporarily halted transactions for users in the US due to an issue that prevented the company from processing withdrawals or deposits with bank accounts. The issues started around 7:00 AM ET, but the company didn’t resolve the issue until around 12:40 PM ET.

“We are currently unable to accept or withdraw payments from US bank accounts. Our team is aware of this issue and is working to get everything back to normal as soon as possible,” explains Coinbase on the status pageadding that users can still use a debit card or PayPal account to buy crypto.

At the time of the outage, Coinbase said on Twitter that users’ money is ‘safe’, for the announcement that the transactions were restored about three hours later. Reached out for comment, Coinbase directed The edge to the aforementioned statement posted on Twitter.

Update October 2, 12:49 PM ET: Updated to add that Coinbase has resolved the issue.

Update October 2, 5:49 PM ET: Updated to add that Coinbase focused The edge to his statement on Twitter when he was reached for comment.


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