Coinbase has debunked false allegations circulating on social media that it imposes withdrawal limits on Bitcoin.
A user’s social media post asserting that crypto exchange Coinbase had imposed a $5,000-per-week limit on Bitcoin withdrawals was widely shared. In response, Coinbase denied the rumors.
Meanwhile, a user on X (formerly Twitter) claimed on Oct. 24 that he had been subjected to a policy limiting his weekly BTC withdrawals from Coinbase to $5,000.
The tweet received over 250,000 views, over 420 retweets, and almost 2,000 likes.
The post intrigued Chris Blec, a crypto researcher, and inquired if anyone could verify the claim.
However, a Coinbase spokesperson told Cointelegraph that these claims were “inaccurate” and that there was no such policy limiting withdrawals when selling to Coinbase cash balances.
“Withdrawing from Coinbase will depend on the payment method you use,” said the spokesperson, recommending that users consult the exchange’s official policy on account limits and withdrawal.
Moreover, Coinbase experienced a limited period of difficulty processing trades when unfounded rumors of withdrawal limits were circulating.
According to Coinbase’s official status page, the crypto exchange began experiencing difficulties processing transactions on Oct. 23 at approximately 6 p.m. UTC.
Meanwhile, less than an hour later, the exchange provided an update stating that the problem had been resolved and that the team was monitoring trading activity for further disruptions.
The trading disruptions on Coinbase occurred amid a flurry of trading activity across the market, as the price of Bitcoin reached $35,000 — a level not seen since May of last year.
