The queen of cryptocurrencies, which came close to $64,000 on Wednesday afternoon, fell 8% in one hour, due to a technical bug on the crypto giant Coinbase.

The account balance of certain customers of the cryptocurrency exchange platform Coinbase fell to zero on Wednesday, the company confirmed, which assured them that their assets were still there, despite this malfunction. “We are aware that users have seen their balance at zero on their Coinbase account and are experiencing problems buying or selling” digital currencies, the platform said in a reaction sent to AFP.

“Our teams are investigating and will provide an update shortly,” Coinbase added. “Your assets are safe.”

Dozens of Internet users have reported, on social networks, a zero balance in their Coinbase account. An AFP journalist also noticed this.

60.000 dollars

The incident comes as bitcoin, the best-known digital currency with the highest valuation in the world, crossed the symbolic threshold of $60,000 per unit on Wednesday, a first since November 2021. It rose as high as at $63,968, approaching its absolute record of $68,991, also recorded in November 2021.

Coinbase is the leading cryptocurrency exchange in the United States. News of the incident hurt the group’s stock. After gaining up to 6.5% at the start of the session, to its highest level in two years, it only increased by 0.98% around 6:30 p.m.

Likewise, the price of bitcoin, which was close to $64,000 late Wednesday afternoon, fell to $59,000, losing 8% in one hour. The asset has since recovered and is trading at 9:00 a.m. this Thursday, February 29 above $62,600.


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