Coinbase Global's (NASDAQ: $COIN) Ethereum (CRYPTO: $ETH) layer-2 network Base suffered a disruption on June 25 that temporarily halted its blockchain.
Coinbase said in a statement that the Base blockchain has resumed working and internal nodes are again syncing correctly. The company continues to investigate the cause of the incident.
The cryptocurrency exchange is advising users and operators to restart their Base nodes to restore synchronization.
• Ripple, The Company Behind XRP, Is Valued At $50 Billion
The incident temporarily halted transaction processing on one of Ethereum's largest layer-2 networks, impacting users.
It's not clear if the incident was caused by a software bug or another consensus-related fault. The same Base network suffered an outage last August.
Coinbase said it is continuing to monitor the Base network and will provide further updates as its investigation continues and more information becomes available.
COIN stock has fallen 40% this year to trade at $142.52 U.S. per share.