Coinbase users unable to send or receive Solana, issue under investigation

Cryptocurrencies have been spreading to more and more users in recent years. Currently, there are many platforms that facilitate the access and use of crypto assets, such as Coinbase.

Through Coinbase users can buy, sell and store dozens of cryptocurrencies. It also offers additional possibilities like staking, margin trading, futures trading, and more.

Solana is one of the cryptocurrencies you can trade through Coinbase. However, currently, Coinbase users are experiencing serious issues with their Solana deposits or transfers.

According to multiple reports, Coinbase users are currently unable to send or receive Solana tokens (1, 2, 3, 4, 5, 6, 7, 8).

Coinbase users unable to send or receive Solana

Many Coinbase users have been waiting for many hours for their transfers of Solana tokens to external Solana addresses.

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Solana not arrived in phantom wallet

Sent 10 sol from coinbase pro to phantom wallet yesterday before the sol network outage.

Still not received now nearly 2 days later in phantom and Sol network is up and running.

Sol has dumped since the outage and since the funds have been locked in coinbase pending, i havent been able to sell and have lost money
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In addition, Solana token deposits made to Coinbase addresses from external wallets are also not reaching the Coinbase user accounts.

🚨Heads up DON’T deposit Solana to @coinbase right now I think they fucked up and are giving bad deposit addresses, I sent 35 sol to the address they gave me and it confirmed on-chain but they still don’t reflect it on my account 2 hours later. Support is not helpful. 🚨
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Users are very concerned about the situation. After all, the crypto market can be very volatile at times.

So, there is always the possibility of a drop in the price of Solana tokens yet users can do nothing to mitigate the losses.

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Users are also concerned about the integrity of their funds. According to reports, the transfers were confirmed correctly in the blockchain network, but the funds are not reflected in the accounts yet.

Coinbase team already aware

The Coinbase team is aware of the issue and is investigating. However, there are no details on an ETA for a fix yet.

Thanks for reaching out. Our team is aware of this issue with sending/receiving Solana and are currently looking into this. Please keep an eye on https://status.coinbase.com/incidents/qsthlm7nqd6f for updates. Many thanks.
^JH
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We will update this story once new details emerge on the matter in the future.

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Jean Leon

A tech enthusiast since ever. I like to always be up to date on the latest news in the industry and write about it. Twitter: @jean_ERdC