The rumors originated from a viral post on social media platform X on October 24, suggesting that oinbase">Coinbase had introduced a new policy restricting users to a maximum withdrawal amount of $5,000 in Bitcoin per week. Despite gaining significant attention online, these claims were unverified.
In response to inquiries, a spokesperson for oinbase">Coinbase clarified that there is no such withdrawal limit in effect. According to the spokesperson, the ability to withdraw funds from oinbase">Coinbase is solely dependent on the payment method used by the user.
oinbase">Coinbase faced temporary technical issues on the evening of October 23, coinciding with the spread of the false rumors. These problems, which affected trade processing, were resolved within an hour, according to the company’s status page.
The temporary outage coincided with a surge in Bitcoin’s price, reaching over $35,000 and marking its highest level since May 2022. This price increase triggered a surge in trading activity across cryptocurrency markets.
Although the viral social media post turned out to be incorrect, it raised concerns among some cryptocurrency users about potential difficulties accessing their Bitcoin holdings. These unfounded claims highlighted existing worries about leaving digital assets on centralized exchanges during times of high volatility.
oinbase">Coinbase reiterated that users can withdraw Bitcoin from their accounts up to their account limits, which are determined by their verification level. The company firmly denied implementing any caps on Bitcoin withdrawals in response to recent market fluctuations.
