Coinbase technology partner denies collecting, selling customer data

05 Mar, 2019
by Richard Allen
Update
Coinbase technology partner denies collecting, selling customer data

Elliptic, a London-based blockchain analytics firm providing services to major US exchange Coinbase has responded to the recent allegations that it’s collected and sold customer data to third parties.

In an official statement released by Elliptic’s CEO James Smith, the firm states that it has never engaged in such activities, stating, “We do not support or enable the violation of any individual’s financial privacy.”

As previously reported, the accusations began circulating when a Coinbase executive attempted to justify the controversial acquisition of Neutrino, stating that their existing technological provider had been collecting and selling Coinbase users’ private data to third parties.

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

Although the Coinbase executive didn’t single out Elliptic, Smith categorically denies these allegations, stating that the comments “fundamentally misunderstand the data we analyze, the insight we share with our clients, and the role we play in the industry.”

He added: “Our exchange clients, including Coinbase, do not provide us with any personally identifiable information about their users. Our clients use our solutions to screen specific transactions for risk. We do not require or request any transaction data that we can link to individuals, and do not have any other client information such as names, addresses or social security numbers.”

In the interest of transparency, a FAQ section has been included in the statement that outlines Ecliptic's services and the type of information it has access to.

Coinbase has recently announced that, in response to community backlash regarding the Neutrino acquisition, staff that had any affiliation with Haacking Team have been asked to leave.

Read more: Coinbase CEO: Ex-Hacking Team members "will transition out of Coinbase"; Coinbase removing Neutrino execs: "Last minute attempts to save face"

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Chepicap is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!

 

Read more: How to tip and receive Bitcoin via the Lightning Network with Tippin.me

Read more about:Coinbase

Poll

Do you think any technology partner collected and sold information?

(3 votes)

Add a comment

of course they are denying. however with such a reputation of coinbase it is obvious that customer data was definitely sold somehow
05 Mar, 2019 - 11:06
i think there is no real reason for believing coinbase. they have done so many suspicious activities in the past that now they are synonym of fraud
06 Mar, 2019 - 12:05
Lol coinbase already accepted that, the leak of info has been on the platform and with the dirty reputation of neturo noone is going to stay on coinbase
05 Mar, 2019 - 14:25
now i don't trust such excuse of coinbase. coinbase is fraud
05 Mar, 2019 - 21:28
coinbase always has unreliable partners such as terrorists and hackers
05 Mar, 2019 - 22:06
i would never use coinbase due to the last news
05 Mar, 2019 - 22:47
Still think that coinbase knew all about this. Looks shady and scary too.
06 Mar, 2019 - 21:19
and the next step by coinbase will be stealing money from new accounts i guess ))
07 Mar, 2019 - 22:23
very funny - hacking team was asked to leave )) so nobody was fired
08 Mar, 2019 - 01:07
we will quickly identify coinbase accomplices after exposing this exchange in a fraud.
08 Mar, 2019 - 21:14
coinbase and its accomplices not only steal customer data but also use it to manipulate them
08 Mar, 2019 - 23:17
If you cooperate with Coinbase, you support and allow financial fraud!
10 Mar, 2019 - 19:31
The previous coinbase provider sold our data. why do we find out about it today?
10 Mar, 2019 - 21:50

Check out the latest news

You will be logged out and redirected to the homepage