Expo web build failing because of invalid file signature

I am trying to compile my code using expo build:web however I face this issue. What is this issue and how can I resolve this

Following version of expo is being used

    "expo": "~37.0.3",
    "expo-localization": "~8.1.0",
    "expo-sharing": "~8.1.0",
    "expo-web-browser": "~8.2.0",
    "firebase": "^7.14.2",
    "react": "~16.9.0",
    "react-dom": "~16.9.0",
    "react-native": "https://github.com/expo/react-native/archive/sdk-37.0.1.tar.gz",
0|app  | ✖ Expo Webpack
0|app  |   Compiled with some errors in 1.63m
0|app  | Using node to generate images. This is much slower than using native packages.
0|app  | › Optionally you can stop the process and try again after successfully running `npm install -g sharp-cli`.
0|app  | › If you are using `expo-cli` to build your project then you could use the `--no-pwa` flag to skip the PWA asset generation step entirely.
0|app  | [17:44:52]  web  Failed to compile.
0|app  | [17:44:52] 
0|app  | [17:44:52] Invalid file signature
0|app  | [17:44:52] Error: Invalid file signature
0|app  |     at compiler.run (/@expo/xdl@57.9.24/src/Webpack.ts:281:23)
0|app  |     at finalCallback (/usr/lib/node_modules/expo-cli/node_modules/webpack/lib/Compiler.js:257:39)
0|app  |     at hooks.done.callAsync.err (/usr/lib/node_modules/expo-cli/node_modules/webpack/lib/Compiler.js:306:14)
0|app  |     at AsyncSeriesHook.eval [as callAsync] (eval at create (/usr/lib/node_modules/expo-cli/node_modules/tapable/lib/HookCodeFactory.js:33:10), <anonymous>:33:1)
0|app  |     at AsyncSeriesHook.lazyCompileHook (/usr/lib/node_modules/expo-cli/node_modules/tapable/lib/Hook.js:154:20)
0|app  |     at emitRecords.err (/usr/lib/node_modules/expo-cli/node_modules/webpack/lib/Compiler.js:304:22)
0|app  |     at Compiler.emitRecords (/usr/lib/node_modules/expo-cli/node_modules/webpack/lib/Compiler.js:499:39)
0|app  |     at emitAssets.err (/usr/lib/node_modules/expo-cli/node_modules/webpack/lib/Compiler.js:298:10)
0|app  |     at hooks.afterEmit.callAsync.err (/usr/lib/node_modules/expo-cli/node_modules/webpack/lib/Compiler.js:485:14)
0|app  |     at AsyncSeriesHook.eval [as callAsync] (eval at create (/usr/lib/node_modules/expo-cli/node_modules/tapable/lib/HookCodeFactory.js:33:10), <anonymous>:20:1)
0|app  |     at AsyncSeriesHook.lazyCompileHook (/usr/lib/node_modules/expo-cli/node_modules/tapable/lib/Hook.js:154:20)
0|app  |     at asyncLib.forEachLimit.err (/usr/lib/node_modules/expo-cli/node_modules/webpack/lib/Compiler.js:482:27)
0|app  |     at /usr/lib/node_modules/expo-cli/node_modules/neo-async/async.js:2818:7
0|app  |     at done (/usr/lib/node_modules/expo-cli/node_modules/neo-async/async.js:3522:9)
0|app  |     at AsyncSeriesHook.eval [as callAsync] (eval at create (/usr/lib/node_modules/expo-cli/node_modules/tapable/lib/HookCodeFactory.js:33:10), <anonymous>:6:1)
0|app  |     at outputFileSystem.writeFile.err (/usr/lib/node_modules/expo-cli/node_modules/webpack/lib/Compiler.js:464:33)
0|app  |     at ChildProcess.exithandler (child_process.js:294:12)
0|app  |     at ChildProcess.emit (events.js:198:13)
0|app  |     at maybeClose (internal/child_process.js:982:16)
0|app  |     at Process.ChildProcess._handle.onexit (internal/child_process.js:259:5)