Cryptocurrency exchange Coinbase was forced to shut down after running a 60-second ad on the Super Bowl.
“Coinbase just recorded the largest influx of traffic in the company’s history … We only had to limit traffic for a few minutes. We are back up and running and waiting for you. We were flattered by what happened,” wrote Coinbase product director Surojit Chatterjee.
The Super Bowl is the most expensive event of the year for advertisers. The 30 seconds of airtime cost about $6.5 million.
Coinbase spent $14 million on its ads, in which a QR code jumped across a black screen for 60 seconds. When a user clicks the link, they are taken to a bitcoin giveaway page from the Coinbase exchange, where they are encouraged to sign up within two days to collect $15 in cryptocurrency and have a chance to win $3 million in prizes.