Coinbase Resolves Glitch That Blocked Trades From U.S. Bank Accounts

The cryptocurrency exchange Coinbase Global Inc. claimed that on Sunday night, technical issues had kept users of U.S. bank accounts from making withdrawals or payments for most of the day. “We’ve fully resolved this issue, and ACH transfers are now processing. We apologize for the inconvenience,” Coinbase Support said in a Tweet late Sunday night. We’ve fully resolved this issue and ACH transfers are now processing. We apologize for the inconvenience. https://t.co/dezVgcaagm — Coinbase Support (@CoinbaseSupport) October 2, 2022 Coinbase Technical Glitches The Automated Clearing House Network, or ACH, is a system that electronically moves money between bank accounts in the United States. According to a previous Tweet from Coinbase, “technical challenges creating ACH transfers” were to blame for the disruptions experienced by owners of U.S. bank accounts. As stated by the business, all users could still make direct purchases using a debit card or PayPal account, and that user’s funds were secure. Following a significant outage on the Solana network on Friday, the publicly traded company also announced that trading in Solana tokens on its platform has resumed as of Sunday night. Hit With Lawsuit Over Poor Security Coinbase was the subject of a class action lawsuit in August for failing to adequately secure its clients’ accounts, making them open to unlawful conduct. The case, submitted to the U.S. District Court for the Northern...