Wells Fargo, one of the world’s largest banks, experienced a mobile banking outage yesterday. The institution has since handled the situation, explaining that one of its facilities was affected. Bitcoin, in the meantime, boasts 99.98% uptime since January 3rd, 2009.
Wells Fargo Systems Taken Down by Power Outage
Wells Fargo, currently the 11th biggest bank in the world, with almost $2 trillion in assets, experienced an outage yesterday, preventing some of its users from accessing their mobile banking and mobile app.
The issue was officially confirmed by the bank. Evidently, the problem was caused by a power outage at one of the bank’s facilities.
We’re experiencing system issues due to a power shutdown at one of our facilities, initiated after smoke was detected following routine maintenance. We’re working to restore services as soon as possible. We apologize for the inconvenience.
The bank also made it clear that the issue is contained and that it’s not caused by “any cybersecurity event.”
Another One Bites The Dust
Wells Fargo isn’t the only major financial institutions which allowed its users to be left essentially unbanked for a period of time due to a power outage.
In 2018, Visa’s network also crashed for a few hours. This left millions of people throughout the entire world without access to their funds.
Again, the event was caused by a power outage in one of Visa’s facilities.
While both situations were handled fairly quickly, the problem is obviously not being handled on a larger scale.
“Bitcoin Never Sleeps”
Commenting on the matter was Twitter user and popular Bitcoin proponent Matt Odell (@matt_odell), who outlined the obvious:
“Bitcoin never sleeps*
*99.98% uptime since Jan 3 2009 02:54:25 GMT”
Indeed, according to Bitcoinuptime.com, the cryptocurrency boasts an uptime traditional financial institutions are far away from.
Were you affected by Wells Fargo’s outage? Let us know down below!
Images credit to Flickr