Coinbase's cryptocurrency exchange crashes briefly

pulse

December 11, 2017 8:21 PM

The very brief outage occurred during a relative calm trading session.

The exchanged resumed trading at 2:57 p.m. ET.

Coinbase, the US-based cryptocurrency trading platform, saw its crash for a brief time Monday afternoon.

The exchange stopped executing trades for clients at around 2:50 p.m. ET, according to an alert on its website, citing issues relating to their application programming interface, the technology that communicates information between computers.

"All markets are now in post-only mode and we are preparing to re-enable trading," the company said. "New maker orders will be accepted, but no matches will occur."

The company had things back up and running by 2:57 p.m. ET.

This isn't the first time Coinbase's exchange has experienced an outage. When bitcoin soared over $11,000 per coin in November, Coinbase experienced a "partial system outage," during which time many users found themselves locked out of their accounts. It also experienced issues during a wild-trading session Thursday.

Still, Monday's crash occurred during a relatively calm trading session for bitcoin. Volumes for bitcoin were nearly half of what they were during the previous outage, according to data from CoinMarketCap.

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