Surprise Altcoin Network Outage for the First Time in Years: Statement from the Team!

The Base Network, Coinbase's Ethereum layer-2 scaling network, experienced its first outage since 2023. The Base Altcoin Network Was Down for Approximately Half an Hour The network halted core functions such as block production, deposits, withdrawals, and flashblock operations for 29 minutes due to a technical malfunction that occurred at 09:15. According to Base's incident status page, the outage was caused by a technical issue called “unsafe head delay,” which disrupted the network's ability to generate and confirm blocks. The team announced the start of the response at 09:43. Just one minute later, they announced that the issue had been identified and resolved, and the network was back up and running. They also activated a monitoring mechanism to address potential new issues. While brief, the outage is noteworthy given Base's track record of uninterrupted service and its growing prominence in the Ethereum Layer-2 ecosystem. Since launch, Base has reached $4.2 billion in total value locked (TVL), $1.5 billion of which is tied to its lending protocol, Morpho, according to DeFiLlama data. *This is not investment advice. Continue Reading: Surprise Altcoin Network Outage for the First Time in Years: Statement from the Team!