Bitcoin Forum

Hi all,
 
     I am a victim of a hack a little while back. I'm trying to trace where the funds are going and noticed the hacker has been using Coinbase commerce for transactions. I want to know with Coinbase Commerce, do the user require a KYC or any identifiable information? Here is an example of a transaction
 
https://etherscan.io/tx/0x4379af7def2eaa91ccdbd51c1eb4833915338cfcef27154d6df22c0716fbadcf
 
I'm trying to gather information that can hopefully lead to some type of identification, I know Coinbase is big on KYC.
 
Thank you in advance for any information. Have a great day everyone.

Have you purchased anything from a website that accepts payments through the Coinbase payment gateway. Due to the fact that it is indicated in the commerce, the transaction appears to be a payment getaway. For assistance with your problem, contact Coinbase support. I think accessing their wallet services, which include commerce, requires KYC. If still present, they might freeze the fraudsters' funds. Indicate in writing where you are making the transaction. Even though I can't guarantee that you will receive a refund, try it anyhow.

Sorry to hear about the hack. As for Coinbase Commerce, they usually require some identification information to be provided, like a government-issued ID, to follow laws against money laundering and prevent fraud. You should check out their policies and terms of service to get their exact verification process. You should also report the case to their customer support with as much detail as possible so they can advise you on how to proceed.

Have you read the Faqs? Read them here https://www.coinbase.com/commerce/faq

According to them, their Coinbase commerce is non-custodial and it generates a 12-word seed backup. So it is a non-custodial or fully decentralized payment gateway even if you are not KYC verified you can withdraw the amount to another wallet.

And I tried to read the faqs but it seems Coinbase commerce doesn't require KYC verification.

OP, report it to Coinbase regardless. There are a lot of careless hackers out there that there's a small chance that the hacker might send the stolen funds to a KYC'd account. You already have nothing to lose anyway, and submitting a report takes just a few minutes.

It looks like it's a CB commerce contract address, which is likely the hacker using a "self-managed" (no KYC) account type to make decentralized transactions.
Note: I haven't tried this platform yet, just think if transactions are centralized anyway, they don't really need the smartcontrack role.

CB commerce has 2 types of user accounts where only CB-managed users can possibly be identified (the wallet is connected to the main CB exchange account based on their description)

According to their self-hosted terms of service, they have access to the user's e-mail, transaction history, product & service the user sell, the information they provided to customer support, and cryptocurrency addresses used by the user[1]. Just try and report it as suggested above, who knows, they might be able to help you by providing other addresses that can link him to something identifiable.

[1] https://commerce.coinbase.com/legal/privacy-policy/

Thank you all for your responses, some good information. I appreciate all the input and kindness.

You really should get police and law enforcement involved if you suffered a serious financial loss. Coinbase won't disclose personal information of their clients to anyone who asks, but they are obliged to assist if a crime has been committed. They are surely going to ask to see proof of what happened and they can't just take your word for it.

In my opinion, Coinbase as a company is big on KYC and requires it for their main exchange platform. I think, as for the transaction you provided, it seems like the wallet address used was a Coinbase Commerce address, but it is not clear if the user had an account with Coinbase or if they used the Commerce service without KYC.