The investigation of the problem took two days, and Coinbase (NASDAQ:COIN) developers have been looking for the cause as of January 9 at 8 pm PST.
Cardano has recently updated the trezor-connect dependency. This might have caused problems in the Coinbase system. Cardano announced the following updates:
“The team […] worked on receiver address validation to prevent users from sending ada to rewards addresses, performed a cardano-node and wallet backend version update, and upgraded packages.”
At this moment, Cardano looks bearish at $1.16, yet experts predict “a swift recovery will lead to a 20% gain, propelling ADA to $1.42.”
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Source: Cryptocurrency - investing.com