Coinbase CEO Brian Armstrong said the Crypto Exchange has reduced unnecessary sanctions on its users by 82%, which has been a “major issue” for the exchange.
In June 6X post, Armstrong accepted This account freezing has been a problem “long is acceptable”, and that it has become the top priority to improve for his firm.
Armstrong said, “The issue has been reduced by 82% so far, and more improvements are coming. We will keep you updating you as further reforms,” Armstrong said, before asking all customers with frozen accounts to contact coinbase support.
Coinbase users have expressed disappointment Account ban for years, Reporting suddenly stabilizes for several months or longer, motivating some to leave the stage.
Customer’s trust in the coinbase was also recently shook Population data violation This exposed the details of more than 70,000 customer accounts.
Coinbase says low restrictions due to better models
Armstrong credited progress to Dor Levi, a member of the Coinbase’s product team, who came on board with the primary target of fixing account sanctions nine weeks ago.
In a post of your own, levy Said Most progress has come from the coinbase’s machine learning models and “significant investment” in infrastructure.
“We have recalled and recalled all our models, and are looking at the resulting low restriction/freeze.”
The coinbase will continue to implement the account restrictions imposed by law orders and restrictions, to remain in line with the law, Armstrong and Levi said.
Despite the progress, a lot of work remains, Levi said, who admitted that as a coinbase user, the experience with an account ban still does not fulfill its “bar”.
I joined @Coinbase 9 weeks ago with an important target: fixing unnecessary account restrictions.
If you are on the whistle, you know how important this problem is for users. I myself am a coinbase user and our ban is not fulfilling my own bar.
The goal is clear: account … pic.twitter.com/zvgum3qszi
– Door (@Dorvonlevi) June 6, 2025
Coinbase users say they are closed for several months
In response to Armstrong’s post, an X user Said They have been completely closed from their coinbase account for more than two years, while another Said He left the stage after finishing the eight -month freeze.
Another X user freezed a long account to the Custom Assistance Team of the Coinbase.
“In the coinbase, it is extremely difficult to talk to a live customer service person,” they Said, Saying that it can “take someone to track forever.”
Connected: Know about the recently disclosed data leaks since January: Reuters
There is also a coinbase Planning After illegal actors, to strengthen their safety measures, some of their foreign customer service agents bribed the government to reach the ID photo issued by the government and Home addresses Last December, about 70,000 coinbase customers. The incident was only revealed In mid -May.
https://t.co/evpibmfvrw pic.twitter.com/f6UPDKL5R00
– Brian Armstrong (@brian_armstrong) May 15, 2025
An X user also Claimed One of his family friends lost bitcoin (BTC) And ether (ET) In a scam that they believe that recently the coinbase data was associated with the breech.
The coinbase is one of the world’s largest crypto exchanges, with more than 100 million users and it is the largest protector of the location Bitcoin exchange-traded funds.
magazine: Coinbase hack shows that the law will probably not protect you: Why is here
