Coinbase’s Base community skilled a 19-minute block manufacturing halt on August 5, with the most recent block remaining at top 33,792,704 earlier than resuming regular operations.
The Ethereum Layer 2 blockchain reported the problem at 6:15 UTC and confirmed decision by 6:44 UTC in accordance with its official standing web page, marking the community’s first important outage.
Community Recovers as Token Creation Surge Checks Infrastructure Limits
Base mainnet skilled delays in deposits, withdrawals, block manufacturing, and Flashblocks performance through the disruption.
The community recognized and glued the underlying problem inside half-hour whereas persevering with to observe for added issues, although officers didn’t disclose the particular reason behind the halt.
The outage may need occurred as Base experiences unprecedented progress in token creation, lately overtaking Solana in every day launches with over 54,000 new tokens on July 27.
The surge stems from the mixing of social platforms Zora and Farcaster into the rebranded Base App, which mechanically mints creator cash from social posts.
Base’s speedy enlargement consists of 1.6 million tokens launched and almost 3 million merchants taking part for the reason that app relaunch, producing roughly $470 million in buying and selling quantity.
The community’s institutional adoption accelerated with JPMorgan’s JPMD digital deposit token launch and Shopify’s USDC cost integration throughout 34 international locations.
Creator Economic system Growth Drives Community Exercise to Report Ranges
Base’s transformation right into a complete SocialFi platform by way of the July rebranding of Coinbase Pockets has basically altered its utilization patterns.
The mixing of Zora’s sensible contracts permits computerized ERC-20 token minting from each social submit, creating tradable creator cash with on the spot liquidity.
Every day token launches skyrocketed from 6,649 on July 1 to roughly 50,000 by month-end, establishing Base because the main community for token creation.
The flagship ZORA token achieved a $200 million market cap, up 185% from April’s $70 million valuation.
Notable creator cash achieved substantial valuations, together with Zeebu at over $485 million market cap, Wormhole at over $355 million, and Yield Guild Video games at over $80 million with over $12 million every day quantity.
The ecosystem’s speedy progress prompted Base creator Jesse Pollak to name for crypto funds to take “$5 million or extra” positions in creator coin indexes.
who’s going to be the primary fund to take a scaled (e.g. $5m+) lengthy maintain place in an index of onchain creators?
looks as if a comparatively no-brainer alternative to win because the onchain creator financial system grows.— jesse.base.eth (@jessepollak) August 3, 2025
The Base App combines social networking powered by Farcaster, USDC funds, on-chain identification administration, and dApp discovery in a single interface.
Customers can earn as much as 4.1% APY holding USDC whereas accessing lots of of mini-apps for gaming, yield farming, and prediction markets.
Notably, Base Chain’s latest Flashblocks improve diminished efficient block occasions from 2 seconds to 200 milliseconds, making transactions 10 occasions quicker.
The community additionally processes worldwide transactions below $0.01 with 200-millisecond settlement occasions.
Safety Challenges Mount Regardless of Institutional Backing
Base confronted important safety incidents alongside its progress trajectory, together with the $2.5 million Arcadia Finance hack on July 15.
Attackers exploited a vulnerability within the Rebalancer contract’s swapData parameters to empty consumer vaults of USDC, USDS, and different tokens earlier than bridging funds to the Ethereum mainnet.
The Arcadia breach marked the platform’s second main safety incident following a $455,000 hack in October 2023.
Each assaults exploited inadequate enter validation and reentrancy safety in sensible contract code, with PeckShield beforehand warning about persistent vulnerabilities.
Coinbase launched a $5 million bug bounty program by way of Cantina, focusing on Base community sensible contracts and on-chain merchandise.
@coinbase drops huge $5M bug bounty on Cantina for @base safety as @jpmorgan launches $JPMD token and @Shopify integrates USDC funds throughout 34 international locations.#Coinbase #Basehttps://t.co/R6cdJAI1RQ
— Cryptonews.com (@cryptonews) July 9, 2025
The initiative covers crucial parts, together with Verified Swimming pools, Fault-Proof Audits, and WebAuthn modules, representing one of many largest Web3 safety packages.
The change concurrently handled a knowledge breach affecting almost 70,000 customers by way of bribed abroad assist workers, leading to a $20 million ransom demand that Coinbase refused to pay.
The corporate terminated over 200 TaskUs workers and established enhanced insider-threat detection techniques.
Base’s community halt joins a sample of blockchain outages in 2024, together with Sui’s hour-long crash, TON’s six-hour disruption amid DOGS token demand, Avalanche’s two-hour block manufacturing failure, and Solana’s repeated five-hour outages.
It’s evident that this incident isn’t new of its variety, and it reveals the infrastructure challenges confronted by blockchain networks as they scale to accommodate mainstream adoption.
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