Coinbase Refunds Users Affected by The Segwit Implementation Bug


Coinbase exchange announced the implementation of Segwit to its exchange and wallet on February 20th of 2018.  A bug in the Segwit implementation made Coinbase users lose their Bitcoin funds when the transacted on the platform.

According to Investopedia, Segregated Witness (Segwit) “is the process by which the block size limit on a blockchain is increased by removing signature data from Bitcoin transactions.”

A Coinbase spokesperson talked to Coin Telegraph about the issue;

“as soon as we were notified about the issue we started working to resolve and the issue was fixed within hours. Less than 30 customers were affected by the issue and we’ve issued refunds to all customers.”

Coinbase has reassured its client that the bug was finally resolved and that any affected client will be refunded as soon as possible.

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