Coinbase Resumes Trading Feature After Vulnerability Warning

(Bloomberg) -- Coinbase Global Inc., the largest U.S. cryptocurrency exchange, resumed operations of a recently launched advanced trading feature that was halted earlier when an unverified Twitter user warned of a possible vulnerability. 

A Coinbase spokesperson said the company is in touch with the Twitter user to learn more about the issue. Coinbase Chief Executive Officer Brian Armstrong also replied to the Twitter user, saying that the company would investigate. 

Armstrong later tweeted to the Twitter account, “you’re awesome - a big thank you for working with our team.” And just after 6 p.m. New York time, Coinbase tweeted that retail advanced trading had resumed and customers’ funds “remain safe.”

Last November, Coinbase launched the advanced trading functionality on Coinbase.com to a small number of customers. The feature is intended for more experienced traders and enables them to interact directly with the order book, according to the company’s website. 

Coinbase shares closed down 5% on to $194.53 on Friday, outpacing losses in the S&P 500 index. 

©2022 Bloomberg L.P.