Some Coinbase users found themselves in a holding pattern on July 31 when the exchange flagged delays affecting MultiversX (EGLD) transactions. Sending and receiving EGLD tokens hit a bottleneck, leaving a subset of users temporarily unable to move their funds on and off the platform.
Buying, selling, and all fiat-related operations continued working just fine throughout the disruption.
What happened and how fast it got fixed
Coinbase’s investigation into the issue kicked off around 15:47 PDT. The problem was narrowly scoped to EGLD network transactions, meaning only users trying to send or receive MultiversX tokens were affected.
The engineering team identified the root cause and deployed a fix within hours on the same day. Monitoring after the fix confirmed that normal operations had resumed, and the issue was marked as resolved.
No security breach was reported in connection with the incident. No funds were lost or compromised.
MultiversX in context
For those unfamiliar, MultiversX (formerly Elrond) is a blockchain protocol built around a technology called adaptive state sharding, which splits its network into parallel processing lanes to handle more transactions simultaneously.
The protocol claims throughput of up to 15,000 transactions per second with roughly six-second latency and low fees. For comparison, Ethereum’s base layer typically handles around 15-30 TPS.
Throughout 2026, the MultiversX team has been rolling out security enhancements and network upgrades, including the introduction of “Guardians,” aimed at hardening its infrastructure. None of the publicly available information suggests that the Coinbase delay was caused by any issue on MultiversX’s own network. The problem appears to have been isolated to Coinbase’s integration layer.
MultiversX’s network continued operating normally during the window when Coinbase users were experiencing delays. No reports of congestion, downtime, or unusual activity surfaced from other platforms or on-chain monitoring tools in connection with this event.
What this means for EGLD holders and traders
No adverse effects on EGLD’s trading liquidity were observed during the incident. Users could still buy and sell EGLD on Coinbase throughout the disruption. They just couldn’t move it off the exchange or receive inbound transfers for a few hours.
For anyone who was mid-transfer when the delays hit, it’s worth verifying that pending transactions have completed successfully now that operations are back to normal. Checking both the Coinbase transaction history and the MultiversX blockchain explorer for confirmation is the prudent move.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
