Cryptocurrencies

Coinbase finally acknowledges a problem that has lasted for years Brian Armstrong, CEO of Coinbase, finally publicly acknowledges a 'major issue' that has been affecting its platform for years. The leading U.S. exchange announces an 82% reduction in abusive account freezes. But will this improvement be enough to restore trust that has been shaken by recent data breaches? Coinbase wants to turn the page on frozen accounts

On June 6, Brian Armstrong, CEO of Coinbase, published a direct message on X: 'Account freezing has been a major issue at Coinbase for too long... The problem has been reduced by 82% so far, and more improvements are expected...' A statement that sounds like a confession.

For too long, users have been left without access to their funds without a clear explanation. Some for several months. One user even reported being locked out... for over two years.

The problem is not new. For several years, forums and social media have been filled with testimonies from frustrated and even desperate customers.