An Altcoin’s Network Experiencing Problems: Coinbase Makes a Statement

Coinbase, the largest cryptocurrency exchange in the United States, has warned users about delays in transactions related to Polygon (POL) shortly after the network underwent a major update.

In a recent status update, Coinbase reported that some users may experience delays in sending and receiving Polygon tokens, but other services, including buying, selling, and fiat withdrawals or deposits, are unaffected.

The official Coinbase status page included the following statements:

“We are aware that some users may be experiencing delays in sending and receiving Polygon (MATIC). Buying, selling, and fiat withdrawals/deposits are not affected. We are investigating this issue and will provide an update shortly. Rest assured that your funds are safe.”

According to the status page, which specifically shows an “underperforming” rating for Polygon, no other blockchains are currently affected. Coinbase noted that similar technical issues were reported on September 3 but were quickly resolved.

Polygon, a popular Ethereum scaling solution, recently completed an upgrade that replaced the MATIC token with POL and introduced an updated staking-based security system.

*This is not investment advice.