Coinbase account holders have suffered a lockout from their funds and investments after the cryptocurrency exchange revealed that an increase in the number of accounts being created and new regulations resulted in issues for the site which triggered that users needed to verify their identity again.

The issue meant that many account holders were unable to do anything other than withdraw funds from their accounts, meaning that they were also unable to take advantage of a price dump in cryptocurrency bitcoin before it then pumped to a new all-time high of $42,000.

Affected accounts have also been signalled to have been placed ‘under review’ to which a spokesperson for Coinbase revealed they knew about, telling the press that they know that the level of support that they are offering their customers at this time is not what is deemed acceptable.

The exchange told This Is Money that they had now restored a large proportion of affected accounts back to full functionality, however it seems that there are still users that are experiencing the issues that have seen them unable to cash in on the recent bullish market that pumped the prices of coins such as bitcoin and Ethereum.

Complaints from customers continue to highlight that they were unable to add further investment into bitcoin prior to its biggest push on price in the past couple of weeks, with the exchange saying that issues that they were having on Wednesday and Thursday were related to ‘connection issues’.