Coinbase pauses transactions in US to address bank transfer issues

Coinbase has temporarily stopped transactions for users in the US due to an issue preventing the company from processing withdrawals or deposits involving bank accounts. Problems started around 7AM ET, but the company announced at around 8:30AM ET that it’s working on a fix.

“We are currently unable to take payments or make withdrawals involving US bank accounts. Our team is aware of this issue and is working on getting everything back to normal as soon as possible,” Coinbase explains on its status page, adding that users can still use a debit card or PayPal account to buy crypto.

Coinbase says on Twitter that users’ funds are “safe,” but didn’t provide a timeline for when the problem will be fixed. The Verge reached out to Coinbase with a request for comment, but didn’t immediately hear back.