Michael Arrington says Coinbase's recent data breach “will lead to people dying”, calls for KYC rules reassessment and prison for execs failing to protect users
The founder of online news publication TechCrunch has claimed that Coinbase's recent data breach “will lead to people dying …
Decrypt Ryan S. Gladwin
Related Coverage
- Michael Arrington Warns Coinbase Hack Could Lead to Deaths - Here's Why Coinpedia Fintech News · Andrea
- Coinbase data leak could put users in physical danger: TechCrunch founder Cointelegraph · Zoltan Vardai
- “Will lead to people dying” TechCrunch Founder on Coinbase Data Breach CoinGape · Vignesh Karunanidhi
- Coinbase changed lawsuit rules a day before disclosing data breach, report Protos · Jacob Lyon
- US DOJ opens investigation into Coinbase's recent cyberattack Reuters
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- Coinbase Says DOJ Probing Latest Attack On Its Platform, Clarifies Its Not The ‘Subject’ Of The Investigation Benzinga · Aniket Verma
- Coinbase: Justice Department to Pursue Criminal Charges Against Cybercriminals PYMNTS.com
- Coinbase Confirms DOJ Investigation Following Major Security Incident NewsBTC · Ronaldo Marquez
- US Justice Department investigates Coinbase $20 Million ransom hack Cryptopolitan · Noor Bazmi
- Coinbase Says It's Working With DOJ to Investigate Hack of Customer Data Decrypt · Mat Di Salvo
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- DOJ Launches Criminal Probe Into Coinbase Breach Involving Bribed Employees Bitcoin News
- US Government Launches Investigation Into Coinbase Watcher Guru · Jaxon Gaines
Discussion
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@arrington
@arrington
on x
I am a long time investor in and champion of @coinbase. Something that has to be said though - this hack - which includes home addresses and account balances - will lead to people dying. It probably has already. The human cost, denominated in misery, is much larger than the $400m…
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@arrington
@arrington
on x
At the government level, they really need to think through KYC regulations as well. The stated intent of these laws is to reduct money laundering, but what they are really about is tracking the tax donkeys and ensuring that revenue is maximized. Combining these KYC laws with
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@lukeyoungblood
@lukeyoungblood
on x
@arrington Great point. The confluence of these factors is the issue. Without the crazy KYC laws they wouldn't be storing this sensitive info, but Coinbase has no excuse for using low budget offshore CX at this point - they can afford better, and here's 400 million reasons why th…
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@zlok
@zlok
on x
@arrington You mistakenly inverted the two tweets: it's on the government first for imposing the responsibility of such reckless regulations on companies, and on Coinbase's execs “as well” for accepting the risk anyway.