Dennis Porter, the CEO of Satoshi Action Fund, has announced that Coinbase has finally fixed issues that caused a withdrawal halt for US banks.
In a tweet, Porter said, " Crypto exchange Coinbase fixes a technical problem that primarily halted payments and withdrawals from US Bank accounts."
After Coinbase fixed the technical issue that caused withdrawal problems, US users can now withdraw without issues.
What Happened?
On October 2nd, the crypto exchange, Coinbase was reported to have encountered some technical issues which led to a withdrawal halt for US banks.
The withdrawal halt meant that users could no longer deposit or withdraw any funds that involved a US bank.
However, the company pacified its users in a tweet, saying that it was experiencing a technical problem and would resolve it soon.
"We're currently experiencing technical issues creating ACH transfers. Rest assured, your funds are safe. Our team will provide an update here and on our status page when full functionality resumes," Coinbase said.
The company also showed users some alternatives they could use while working on restoring deposits and withdrawals. A debit card and PayPal were the recommended alternatives by Coinbase.
When did They Resolve the Technical Issue?
Coinedition reported that Coinbase had resolved the incident about three hours after the withdrawal halt started.
According to the report, Coinbase had announced to users that they had entirely resolved the issue and that ACH transfers were processing.
Recently, many crypto investors have been complaining about how their transactions at Coinbase have been inaccurate and contain some errors. Also, many users have made complaints about some Coinbase servers locking them out.
Coinbase has apologized and has promised to ensure that it provides top-notch service to its customers.