BlockBeats News, May 8th - Coinbase's official support account released a statement today regarding the outage incident. Around 8 pm local time on May 7th (US Eastern Time), the Coinbase system detected a high error rate in multiple services. Upon investigation, the root cause was found to be a failure in the use1-az4 availability zone of AWS US East 1 (US-EAST-1), which then spread to multiple availability zones, resulting in a prolonged interruption of core transaction services. Coinbase was originally designed to withstand a single availability zone failure and recover quickly, but this simultaneous failure of multiple zones caused users to be unable to transact smoothly.

The main issues have now been fully resolved, and Coinbase appreciates users' patience. The team will conduct a thorough analysis, and further details may be updated in the post-incident report from AWS. If users still experience account issues, they can directly contact the Coinbase support team for assistance.