One of the top crypto exchange Coinbase has recently released a report in which it has given details regarding the outage it faced on June 1. The San Francisco-based crypto exchange has stated in the report that the exchange’s platform went offline after recording a huge 5x traffic spike in just four minutes on June 1, 2020.
Coinbase’s autoscaling could not keep pace with the traffic spike
The crypto exchange reveals in the report that its autoscaling could not keep pace with this dramatic traffic spike and as a result, it had to go through a massive technical outage. This outage affected greatly the Coinbase Pro, Coinbase.com, and its mobile applications. When the crypto exchange remained offline, during this whole time, the majority of the trading which is done through API was functioning well.
Moreover, the report states that the situation got more worsened when the internal services of the Coinbase exchange were got affected due to this spike. The report reads:
This led to process saturation of the web servers responsible for our API, where the number of incoming requests was greater than the number of listening processes, causing the requests to either be queued and timeout, or fail immediately.
According to the crypto exchange’s claim in the report, when users were interacting with the exchange’s trading platform, the request rate also went as high as 50% at that time.
Coinbase has faced four outages in the past few months
This is not the first time that the Coinbase exchange had to close down its platform on June 1. The crypto exchange has already been facing such kind of technical outages in recent few months. Coinbase has experienced four outages in total in the past three months.
It is also important to note here that the Coinbase exchange usually suffers outages whenever the price value of Bitcoin makes some significant moves.