Crypto exchange Coinbase has refuted rumors that it had imposed a $5,000-per-week limit on Bitcoin (BTC<\/a>) withdrawals after a user\u2019s post claiming as such gained traction on social media.<\/p>\n An Oct. 24 post from a user on X (formerly Twitter) claimed that he\u2019d been hit with a purported policy that restricted his withdrawals of BTC from Coinbase to a maximum threshold of $5,000 a week.<\/p>\n The post gained over 250,000 views, with more than 420 retweets and nearly 2,000 likes. The post also gained the\u00a0attention<\/a> of crypto researcher Chris Blec, who asked if anyone could verify the claim being made.<\/p>\n . @Coinbase<\/a> is limiting bitcoin withdrawls. I just tried to send BTC from Coinbase to my cold wallet, and encountered a NEW $5k\/wk withdrawl limit policy (implemented 10\/13). I’ve been a Coinbase customer for 10 years. GET YOUR BITCOIN OFF EXCHANGES!!!!<\/p>\n \u2014 Colin Brown (@thecolinbrown) October 23, 2023<\/a><\/p><\/blockquote>\n However, a spokesperson from Coinbase told Cointelegraph that these claims were \u201cinaccurate\u201d and that no such policy existed that limited withdrawals when selling to Coinbase cash balances. <\/p>\n \u201cWithdrawing from Coinbase will be dependent on the payment method you are using to withdraw,\u201d said the spokesperson, who suggested that users consult the crypto exchange\u2019s official policy<\/a> on account limits and withdrawals.<\/p>\n The unfounded rumors of withdrawal limits came around the same time that Coinbase experienced brief difficulty processing trades. <\/p>\n According to Coinbase\u2019s official status page<\/a>, the crypto exchange began experiencing difficulties processing trades around 6 pm UTC on Oct. 23.<\/p>\n Related: <\/em><\/strong>Base network launches 8-week training course for blockchain developers<\/em><\/strong><\/a><\/p>\n Less than an hour later, the exchange provided an update saying that the issue had been fixed and the team was monitoring trading activity for any ongoing issues.<\/p>\n The trading delays on Coinbase occurred amid a frenzy of trading activity throughout the market, as the price of Bitcoin\u00a0surged as high as $35,000<\/a> \u2014 a level not seen since May last year.<\/p>\n Magazine: <\/em><\/strong>How to protect your crypto in a volatile market \u2014 Bitcoin OGs and experts weigh in<\/em><\/strong><\/a><\/p>\n<\/div>\n\n
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