The Nasdaq-listed crypto exchange restored services after a multi-hour disruption tied to Amazon Web Services failures in U.S. East zones.
Coinbase (COIN) experienced a trading outage lasting several hours on Thursday due to an Amazon Web Services (AWS) failure across multiple U.S. East availability zones. The exchange said its systems are designed to handle single-zone disruptions but were overwhelmed by broader AWS issues, forcing a temporary shift to “cancel only” mode before full service resumed.
The incident occurred amid weaker-than-expected first-quarter results, a 14% workforce reduction, and a decline in trading activity. Coinbase attributed the disruption to elevated temperatures affecting AWS services in Virginia, which impacted both web and mobile platforms.
Trading was fully restored after the exchange addressed the AWS-related failures, though the outage drew criticism over Coinbase’s technical resilience during a period of financial and operational challenges.