Coinbase recently released a post-incident report regarding the massive service outage that occurred on May 7. As a result of this incident, core Coinbase services, including trading, deposits and withdrawals, and order processing, were completely suspended for about eight hours.

The cause of the outage was a cooling system failure at an AWS data center. This caused some servers to go offline, and Coinbase's core trading system, the 'matching engine,' failed to secure the minimum number of servers required for normal operation, leading to the suspension of trading.

Issues continued during the recovery process as well. An additional failure occurred in the AWS managed Kafka (MSK) service, which processes trading data and order information, delaying the overall recovery efforts. Consequently, it was reported that severe problems occurred in major functions such as quote provision, fee calculation, and ledger processing.

Regarding this incident, Coinbase acknowledged, "We should have designed the system so that services could operate normally even during a single data center outage, but we were not sufficiently prepared." They further stated that to prevent recurrence in the future, they plan to build redundancy for the matching engine—the core trading system—and improve the overall data processing infrastructure.