Coinbase reports delayed MultiversX transactions for some users

Some Coinbase users found themselves in a holding pattern on July 31 when the exchange flagged delays affecting MultiversX (EGLD) transactions. Sending and receiving EGLD tokens hit a bottleneck, leaving a subset of users temporarily unable to move their funds on and off the platform. Buying, selling, and all fiat-related operations continued working just fine throughout the disruption. What happened and how fast it got fixed Coinbase’s investigation into the issue kicked off around 15:47 PDT. The problem was narrowly scoped to EGLD network transactions, meaning only users trying to send or receive MultiversX tokens were affected. The engineering team identified the root cause and deployed a fix within hours on the same day. Monitoring after the fix confirmed that normal operations had resumed, and the issue was marked as resolved. No security breach was reported in connection with the incident. No funds were lost or compromised. MultiversX in context For those unfamiliar, MultiversX (formerly Elrond) is a blockchain protocol built around a technology called adaptive state sharding, which splits its network into parallel processing lanes to handle more transactions simultaneously. ...