Coinbase Global’s Ethereum layer-2 network, Base, experienced a significant disruption on June 25, resulting in a temporary halt of its blockchain services. The incident caused a pause in transaction processing on one of Ethereum’s prominent layer-2 networks, adversely affecting numerous users relying on the platform.
In response to the outage, Coinbase issued a statement confirming that the Base blockchain has resumed normal operations and that internal nodes are now syncing correctly. The company is actively investigating the underlying cause of the incident but has not yet determined whether it was due to a software bug or a related consensus failure. This is not the first time the Base network has faced issues; a similar outage occurred last August.
To mitigate the effects of the disruption, Coinbase is advising users and operators to restart their Base nodes to ensure proper synchronization and restore full functionality. The company has pledged to continue monitoring the Base network closely and will provide updates as its investigation progresses, promising to share more information as it becomes available.
On a broader scale, Coinbase’s stock has seen a downturn, falling 40% this year, with shares trading at approximately $142.52. The company remains focused on resolving the recent operational challenges while maintaining its commitment to user security and seamless blockchain performance.
