Coinbase admits that the previous third-party provider sold client data

03 Mar, 2019
by Richard Allen
Update
Coinbase admits that the previous third-party provider sold client data

Coinbase executive Christine Sandler attempted to provide some clarity on the recent controversial acquisition of blockchain-tracking firm Neutrino. In an effort to justify the acquisition, Sandler admitted that the company’s previous tracking provider had been selling client data.

“It was important for us to migrate away from our current providers… They were selling client data to outside sources and it was compelling for us to get control over that and have proprietary technology that we could leverage to keep the data safe and protect our clients.”

Coinbase announced the acquisition in late February. Sometime later it became known that several employees at Neutrino had worked for a company called Hacking Team which sold surveillance equipment to oppressive regimes.

Read more: Coinbase responds to criticism surrounding the acquisition of Neutrino

While this admittance provides some clarification on the decision to acquire, it has justifiably added fuel to the #DeleteCoinbase fire that’s been circulating on social media.

Read more: #DeleteCoinbase movement gaining traction as more people close accounts

Details are scarce regarding what was sold by the previous provider, but considering Coinbase requires detailed KYC identification from their customers, it’s almost surely information that is concerning to the platform’s users.

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Have you been selling our data before this time? what the hell, coinbase?
03 Mar, 2019 - 20:21
well done coinbase !!! only shame and nothing else
03 Mar, 2019 - 20:54
Coinbase isn't even ashamed to admit it, it just says that it sold customer information ... I'm shocked…
03 Mar, 2019 - 21:58
Coinbase fraud has no limits. This exchange is digging its own grave
03 Mar, 2019 - 22:46
not a surprise for me all. such illegal activities is norm for coinbase and they were always doing these actions. seems like scam company
04 Mar, 2019 - 16:26
Coinbase will lose all the remaining clients and it won't need a provider after such a statement!
04 Mar, 2019 - 19:24
I support #deletecoinbase too
04 Mar, 2019 - 20:35
coinbase always does a lot of controversial stuff like insider trading or other fraudulent activities
22 Mar, 2019 - 11:50

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