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Coinbase Sheds Light On Recent Outrage While Bitcoin Was Pushing Past $17K



Bitcoin has been turning heads with its performance over the past few days. While severe have been venturing into the crypto-verse, exchanges in the industry have been prepping the right way. However, the San Francisco-based crypto exchange, Coinbase had once again recorded difficulties while Bitcoin was trying to break its recent records.

Bitcoin Steers Beyond $17K While Coinbase Users Miss Out On The Action

The prominent crypto exchange, Coinbase seems to be following a trend especially when Bitcoin moves uphill. The exchange recently revealed that its website had crashed on Monday. Both the website and the mobile apps were witnessing a hindrance in loading. While the exchange announced that it was still probing the matter, Bitcoin was seen bidding adieu to its 26 June 2019, high.

More recently the exchange published a blog post shedding light on the recent event. The blog post drafted by Drew Rothstein, the Director of Engineering detailed that the exchange began to notice a drop in its traffic all the way down to zero which further led to the discovery of the outrage in the exchange on 16 November 2020.

Bitcoin / Coinbase

Soon after the incident was reported, the exchange was working towards fixing the same and figured that this was connected to a migration pertaining to the internal TLS certificates that were being updated at the time. However, the certificated change was implemented which further paved the way for many other problems.

The process of update of the TLS certificates was prioritized as it was fast approaching its expiration. To keep users out of trouble, the exchange went on to put a hold on all the traffic and eliminated the connectivity. Explaining the cause behind the same, Rothstein wrote,

“One of the hundreds of certificates updated was on an external load balancer where it should not have been applied. This resulted in certificate validation issues (services were not expecting this certificate) and a series of service connectivity interruptions.”

To solve the issue, the exchange is reportedly working on different approaches including the formulation of a code to scan around 700 load balancers. This code will identify the mismatches between infrastructure codification as well as configuration.

This isn’t the first time, Coinbase underwent an outrage while Bitcoin was surging. Sometime around the halving of Bitcoin, Coinbase had reported an outrage. The users of the exchange were also locked out of their account when Bitcoin was enduring a slump during the peak of COVID-19. The users of Coinbase revealed that they were refrained from getting hold of their BTC about three times this year alone when the king coin crested its volatility.


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