Coinbase wallet users experienced transaction delays over the past 24 hours due to high network traffic on the Base network. This resulted in increased transaction fees and some user transactions getting stuck in a “pending” state.
According to an official statement on the Coinbase website, transactions submitted with lower fees may be experiencing delays. The statement advises users with pending transactions to cancel and resubmit them with the latest estimated gas fee, if possible. This will prioritize their transactions for faster processing.
For users unable to cancel their pending transactions, Coinbase assures that their funds are safe. These transactions will automatically complete once network congestion subsides and fees decrease.
The Coinbase Wallet team acknowledges the inconvenience and is actively working on implementing a transaction cancellation feature. They will provide an update on its availability in the near future.
This incident highlights the importance of understanding network fees and gas prices for cryptocurrency transactions. Users can monitor current network conditions and adjust fees accordingly to ensure timely processing of their transactions.
Also Read: Coinbase Base Hits 2M Daily Transactions Post Dencun Upgrade
