Cryptocurrency wallet provider Blockchain.com experienced an outage yesterday
Popular cryptocurrency wallet service provider Blockchain.com announced that the outage affected a large number of its customers, but it was resolved a few hours ago.
In its announcement, Blockchain.com said that it experienced an outage with its wallet services, affecting several users in the process. The firm said, “We are currently investigating an issue that’s preventing many people from accessing their wallets. Rest assured that funds are secure, and we’re working to restore access as soon as possible“.
The wallet outage was caused by a fire in one of their data centres. Blockchain.com mitigated the issue by rerouting wallet activities from the affected data centre to the other data centres. The outage affected the wallet services, but Blockchain.com’s cryptocurrency exchange wasn’t affected.
Blockchain.com later said, “We’re encouraged to share that we’ve identified the core issues that have prevented many from accessing their wallets. Our team is working to restore wallet functionality and are hopeful that a fix is in process“.
The firm thanked the users for their patience during the restoration process. “Thank you for your patience, and we apologise for the inconvenience and the frustration caused. We’ll continue to provide updates at blockchain-status.com as well as on our other social media channels“.
The problem was later solved, and the affected users regained access to their wallets. Blockchain.com is one of the oldest cryptocurrency companies. The firm has been operational since 2011. Blockchain.com allows users to buy, sell and store a wide range of cryptocurrencies.
Blockchain.com raised $120 million from macro investors last month. The funding will help the firm’s growing institutional markets business. The funding round was led by Moore Strategic Ventures, Kyle Bass, Access Industries, Rovida Advisors, Lightspeed Venture Partners, Google Ventures, Lakestar and Eldridge.
The cryptocurrency space has witnessed massive institutional interest in recent months, resulting in crypto and blockchain companies expanding their businesses to accommodate them. Blockchain.com revealed it generates enough revenue from its institutional clients to cover all global operating costs and believes the business will expand over the next few months and years.