Indian rupee withdrawals on crypto exchange Coinbase have been stalled for five consecutive days through Nov. 14, 2026. The prolonged outage has locked users’ fiat funds, while the exchange has yet to confirm when withdrawal processing will resume.
Coinbase’s official status page first logged the incident on Nov. 9, 2026, at 03:07 PST (16:37 local time). In the initial report, the issue affected four operational functions simultaneously: withdrawals, new bank account linking, the UPI instant payment system, and deposit processing. However, in a status update at 19:49 PST that same day, the exchange narrowed the scope of the problem. Deposit operations, UPI integration, and bank account linking reportedly returned to normal, leaving rupee withdrawals as the only paralyzed service.
Banking Partner Outage With No Recovery Timeline
Coinbase India addressed the root cause of the issue via its official account on X. Exchange management stated that the disruption stemmed from a system outage at their local banking partner. The partner bank’s outage not only impacted the crypto exchange, but also affected all of the bank’s customers outside the Coinbase ecosystem. Even so, the exchange did not disclose the name of the troubled partner bank and did not provide an estimated timeline for service restoration.
The lack of a recovery deadline sparked a wave of user backlash across social media platforms. Customer frustration mounted because incoming fund transfer channels remained open on the platform. Users could still deposit rupees via IMPS with a limit of 500,000 rupees per transaction, as well as UPI up to 100,000 rupees per day. Funds deposited through these two methods were immediately trapped in exchange accounts, with no option to withdraw them back to personal accounts.
Account Rules That Lock Crypto Transfers
The rupee withdrawal issue exposed another dilemma squeezing traders. According to official Coinbase India guidelines, users who link a local bank account automatically lose access to features for sending crypto assets to external wallets or other exchanges. The exchange implemented this restriction to comply with local banking regulations.
The crypto transfer restriction is permanent and irreversible, even if users remove their bank account details from their profile. This rigid policy has sparked anxiety among customers who lost an emergency liquidation route when fiat currency withdrawals failed. Notably, Coinbase had only recently relaunched direct rupee deposits and withdrawals on May 31, 2026, alongside INR-denominated spot order books and perpetual contract trading.
For crypto traders in India, this five-day ordeal highlights the liquidity risks when digital asset transactions are bound by banking rules that cut off external transfer options.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
