Coinbase undergoing major issues

Website of Coinbase digital asset platform has been down for some time and the users are still not able to log in and make transactions
29 November 2017   1809

Coinbase, a digital asset broker headquartered in San Francisco, California, is currently undergoing performance issues which was noticed by a huge amount of customers using the platform, who were not able to use the website, to log in to the system or to make transations.

This is the message which was displayed to the users while they were trying to log in to the website:

Coinbase system errorCoinbase website error

The company published an update on Coinbase Status page stating that they are investigating performance issues on Coinbase.com and are working to resolve them and promising to update the users of any news concerning the issues.

Coinbase status towards performance issuesCoinbase Status message towards performance issues

Half an hour later another message was published on Coinbase Status page, where it was claimed that the reason for performance issues was identified and the team is working on fixing the problem.

Coinbase service unavailable screenshotCoinbase service unavailable screenshot

In the meantime, Coinbase website still does not work showing the message that service is unavailable and is being maintained at the moment, and the users remain worried about the safety of their cryptoassets.

Lawsuit Against Coinbase to Details BCH Insider Trading

The plaintiffs argue that the exchange intentionally created the conditions for BCH pumps
22 November 2018   341

On Tuesday, November 20, a supplemented class action was filed with the federal district court of the Northern District of California against the largest US cryptocurrency company Coinbase, which contains data on the “false” statements of the latter when listing Bitcoin Cash in December 2017 and other details of probable insider trading, reported by CoinDesk.

The plaintiffs argue that the exchange intentionally created the conditions for Bitcoin Cash's pumps and allowed a limited number of traders to sell at the best price.

As a consequence of this scheme, the Individual Defendants and Coinbase enabled Coinbase to earn significant fees from the trades of its customers, from which Coinbase earned a spread over an inflated price for BCH, and to avoid a ‘run’ on the Company by sellers anxious to take advantage of the inflated price, by closing down trading within minutes of the Launch to all except certain insiders who were positioned to and did sell BCH at inflated prices during the Launch.
 

Lawsuit

Recall, against the background of listing on Coinbase, the BCH rate in just 48 hours took off by 130% - from $ 1,865 to $ 4,300. Trading was suspended already four minutes after the start.

Then, a Bitcoin enthusiast Albert Renshaw published a deleted correspondence on /r/Coinbase the day before the BCH listing, in which an unknown user mukiva2 warned traders about the upcoming event, citing a source in the company.

At the same time, the internal investigation of Coinbase found no evidence of insider trading, and at the end of October the Federal District Court of the Northern District of California rejected one of the lawsuits against the company [of March 2] due to the absence of legal grounds for its consideration.