Coinbase BTC transactions to Taproot addresses stuck at pending or not supported, fix in the works
Soon after it was founded in 2012, Coinbase became one of the largest cryptocurrency exchanges in the United States. The platform faces tough competition from companies like Cash App and Robinhood in the US.
With over 43 million users, Coinbase yielded a net profit of $2.36 billion in the first half of 2021.
However, in the last few months, Coinbase users have been facing issues such as being unable to buy or sell crypto and accounts freezing due to technical difficulties while processing ACH transfers.
Adding to the trouble, many Coinbase users are complaining about BTC transactions to Taproot addresses stuck at pending or showing not supported message (1,2,3,4,5).
Some say the transaction is stuck at pending several hours after they initiated it. Others say Coinbase shows an error message saying BTC sends to Taproot addresses are not supported at this time.
You can see in the image below what the error message looks like.
@CoinbaseSupport Ton of coinbase’s customers have a issue with BTC transaction from Coinbase to Taproot address. How many days do you need to resolve the problem and unlock customers’s btc?
Hello, I made a mistake and send my BTC from BC Pro to a taproot address. CB initiated the transfer and stuck in “pending” for the last 8 hours. There is no transaction hash, no confirmation yet. Since there is no transaction hash I cannot properly contact their customer support. Does anyone have experience with this? Is the transaction eventually fail? if so, how long? If the transaction is successful, would I be able to send from my ledger taproot wallet to my Segwit ledger wallet after?
Thankfully, Coinbase Support has shed some light on the matter and said they are aware of the issue where BTC transactions to Taproot are stuck at pending or showing not supported message.
Hi, Haya! Thanks for reaching out to us here! Our team is aware of the issue, and is working to resolve this ASAP. You may also create a support case from the link below, and our team we’d be glad to further discuss. Thanks!
But there is no ETA on when the problem will be resolved. When they do, we will be updating this space to reflect the same so make sure you stay tuned to PiunikaWeb in the coming days.
Note: We have more such stories in our dedicated News section so be sure to follow them as well.
PiunikaWeb started as purely an investigative tech journalism website with main focus on ‘breaking’ or ‘exclusive’ news. In no time, our stories got picked up by the likes of Forbes, Foxnews, Gizmodo, TechCrunch, Engadget, The Verge, Macrumors, and many others. Want to know more about us? Head here.