- Multiple users report problems using their wallets
- The company hasn’t explained what could have happened
- The company is rated as the fastest growing and most trusted
Blockchain.com, a leading cryptocurrency provider worldwide, seems to have experienced some technical challenges. Multiple users have reported having issues with their accounts while using the company’s Bitcoin wallet.
Connection Issue with the Wallets
According to the Finance Magnates media outlet, users from different parts of the world resorted to social media to express their shock with some being unable to log into their accounts while those who accessed their accounts panicked after seeing their accounts showing a zero balance. Most users unable to access their wallets complained of receiving a message asking them to check the strength of their internet connection even when it was on. The message stated:
“Blockchain Wallet cannot obtain an internet connect. Please check the connectivity on your device and try again.”
The media outlet stated that a user in Israel spent an entire hour in anguish after he “saw his wallet balance at zero. After an hour, the wallet returned to normal, but he said he then could not send money out of the wallet.”
Some users registered their concerns on the Reddit Social Media platform even though Blockchain.com had given no official communication about the existence of the problem or whether they were doing anything to rectify the situation.
Blockchain.com is Work in Progress
Established in 2011 as Blockchain.info, the cryptocurrency wallet provider that is headquartered in Luxembourg, claims in its website to have “the lowest fees in the industry” and runs “over 31 million wallets” that have transacted over $200 billion worth of crypto between them. The company is rated among the most trusted and fastest growing cryptocurrency-related companies because of their commitment to help people all over the world “access and use cryptocurrencies in a safe way.”
Earlier this month Blockchain.com announced launching full support for the altcoin Stellar Lumens (XLM). A massive airdrop of over $125 million worth of XLM followed the move whose aim was to promote the adoption of the cryptocurrency. The airdrop, the biggest consumer giveaway in history, was described as the largest in the crypto community.
The incident happens when, according to a report by McAfee labs in September showed that “cybercriminals continue to follow the money,” especially with the use of crypto mining malware rising significantly.
McAfee’s September’s report detected over 2.5 million new cryptojacking incidents reported in Q2 2018, an increase of 86 percent from Q1 2018. The attacks may have gained popularity as perpetrators seem to have found a way to make quick money with little or no effort, no matter who gets hurt. The most recent attack was on the charity organization “make-a-wish” website.