Sad news - Coinbase is leaking your information

[NavI_027]

What a bad news for those Coinbase wallet users and as well as for all crypto users like us because I can't find good thing on such news . Good for me because I'm not using Coinbase wallet however I don't feel that I'm purely safe either because I use FB lmao. How disappointing to know that even a digital wallet hides shady stuff and put ourselves at risk. Where's their conscience? .

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[Getmon]

Coinbase is sharing information about your account with third parties, which may include information such as: how often you open the app, which devices you open it from, and what the IP address of those devices is. Absolutely unacceptable behavior.

Source: NY times https://www.nytimes.com/2019/11/04/business/secret-consumer-score-access.html

Who is not sharing information? Even KYC information are gathered through third parties in some cases. Once you release personal information from yourself that means that information is already compromised more or less. It is not in your hands anymore and therefore it is not considered safe. Who will force these companies not to release them to third parties such as the government agencies asking for them? Will you be able to save your information to be submitted to the FBI or CIA for example if they request it?

[darkangel11]

That's not all. Coinbase is sharing your information with the IRS and probably any government agency that asks for it. I knew it for years. They are one of the most "helpful" exchanges in that matter.

On the the other hand your click stats and IP are not a private thing. When you accept TOS of any service these days you also accept that your data will be stored and processed.

[alyssa85]

Coinbase is sharing information about your account with third parties, which may include information such as: how often you open the app, which devices you open it from, and what the IP address of those devices is. Absolutely unacceptable behavior.

Source: NY times https://www.nytimes.com/2019/11/04/business/secret-consumer-score-access.html

Exchanges have always been the weak point in the crypto universe, whether it's data sharing or being hacked.

That's why we urgently need to build an ecommerce system that accepts crypto directly so you can just pay in bitcoin or doge or whatever and not have to use an exchange to convert your coins into fiat first.

[Beparanf]

That's why it's always important to read the privacy policy of websites before we agree to them for all we know, our information which was supposed to be safe are being given out to who knows what but in the case of Coinbase I am sure that their customers agreed to it willingly and they can't be faulted if they didn't read their Privacy policy.

Since Privacy Policies were usually long that no one's read it, even they include this "INFORMATION FROM THIRD PARTY SOURCES
From time to time, we may obtain information about you from third party sources as required or permitted by applicable law, such as public databases, credit bureaus, ID verification partners, resellers and channel partners, joint marketing partners, and social media platforms." - https://www.coinbase.com/legal/privacy but the companies should know that they are not allowed to exposed our information especially that crypto is made to be anonymous even we do KYC it's only meant to comply in their rules ad to the government mandated laws so they should keep it privately and not sell it for their benefits.

[Reid]

Who's safe when you are in the internet?
I don't think one is, unless you are using a lot of protection or even with it they could literally trace everything.

Now, the problem is leaking of information and whose fault is it?
Isn't that our own fault too for giving too much information to them just so we could use the best features of their companies?
That is why we are all here. We want privacy. We want freedom but yet this companies will need to abide by the rules of their government or else they will be shut down.

[Reatim]

Old news, but If you think Coinbase and Facebook are the only ones doing this, sadly, you’re mistaken. They’re just the only ones in the news. It would not surprise me at all if Google, Amazon, Twitter, or any large corporation does the exact same things.

exactly the point,who should know?and besides whats the motive of this new and why they single our Coinbase ?what about other exchange and other company that involving cryptocurrency?
this isn't fair as surely everyone doing this cheating,thats why sometimes we are being surprised how emails comes to us when we are not expecting those.

However, It's not okay that they passed the information to 3rd parties. Won't use it anymore, even though it doesn't matter already. So do they do the same with personal info? personally, i don’t see the big deal as long as that information is in no way directly related to personal identifiable information. sharing information, for example, about how often an app is opened on average across thousands of users for trend analysis info, it's no big deal. as long as no personal information is shared I have no problem.

but who knows?since they have our data's?and they can just simply sell the info to third party to use as tools to sneak our activities,and  must not be tolerated.

[jets567]

Isn't that our own fault too for giving too much information to them just so we could use the best features of their companies?

You're right so if you don't want your personal information to be leak then don't share it to these companies and try to find alternative ways, simple as that. With regards on Coinbase privacy policy it is stated that as a user of their platform you are giving them authority to share your personal information with other parties which means you agree with Coinbase terms after you sign-up so there is no point if you argue with them.

Here is the link for Coinbase privacy policy: https://www.coinbase.com/legal/privacy

[The Sceptical Chymist]

I got mine, and I found it shocking: More than 400 pages long, it contained all the messages I’d ever sent to hosts on Airbnb; years of Yelp delivery orders; a log of every time I’d opened the Coinbase app on my iPhone. Many entries included detailed information about the device I used to do these things, including my IP address at the time.

That's frightening, and I didn't know services like this existed.  I'm also wondering whether this was part of the reason Coinbase closed my account suddenly a few years back.  I don't use Airbnb or anything like them, but who knows what data Coinbase has access to and how they use it.  Yet another reason to say "fuck Coinbase!".

Also, fuck those companies like Sift who deal in consumer's information.  That's one of the most shady practices I've ever read about and they're probably more corrupt than all the credit rating agencies combined.  This is scary stuff.

[asus09]

Isn't that our own fault too for giving too much information to them just so we could use the best features of their companies?

You're right so if you don't want your personal information to be leak then don't share it to these companies and try to find alternative ways, simple as that. With regards on Coinbase privacy policy it is stated that as a user of their platform you are giving them authority to share your personal information with other parties which means you agree with Coinbase terms after you sign-up so there is no point if you argue with them.

Here is the link for Coinbase privacy policy: https://www.coinbase.com/legal/privacy

Before joining and creating coinbase account there are have personal information have accepted by registered coinbase account, they have agree with privacy policy of coinbase, now coinbase will know detail with our data account and can access to our account. But coinbase have been trusted bitcoin site and never take our identity for publishing.

[Meowth05]

I think this is not new, as we know it like Facebook and Google, also have it like this, but they have a system that is not easy to hijack.

It is also possible that Coinbase also has a system that will be constantly updated for safety

Honestly, after reading this I'm get little bit disappointed in Coinbase. Facebook and Google are different platform from Coinbase, we tend to choose to hide our identity if it comes in financial matter because there are still some places where it is prohibited hence, this will be a problem if they caught being involved in cryptocurrency. In Facebook we are all aware that our info could be share into 3rd parties but for case of Coinbase or any such crypto related accounts, it is pretty far different. Personally, I preferably to hide my identity out of this,as a matter of fact I am not even fond of KYC system.

[Apes]

Obviously they ruin their reputation, user information is a sensitive matter I will not accept for any reason from their act. This incident is either intentional or leakage from their internal, It seems they have violated the agreement to the consumer. they have to explain publicly ASAP for this incident, before disturbing their customers.

[veleten]

how is this news?
Coinbase has been cooperating with the authorities for a year already ( well , it is KNOWN for a year, they could have been doing it way longer )
they are complying with the US laws , so nothing is surprising here
if they are asked to divulge specific information they have by the authorities , they do it and you agree to this when you sign up
I don't know why people are using it - you can get blocked for gambling , your info can be leaked to the third parties and Coinbase is not that good of a service to bear with it

[Anonylz]

For those who are fond of doing KYC just because they want to get some few dollars from an ambiguous exchange. Am always cautions of my identity online and not to expose myself. We  must be cautions of these exchanges that are been use by government agencies to get investors data. The last thing I will do to get few dollars is KYC.

What exactly are you insinuating? can you tell me that in your years of been in crypto that you haven't done any kyc in any platform be it exchange or not? there is nothing wrong if someone do kyc as requirement of the platform he is dealing, but it is wrong when this platform decided to exploit this entrusted personal information without any shame.

[Baby Dragon]

Who's safe when you are in the internet?
I don't think one is, unless you are using a lot of protection or even with it they could literally trace everything.

Now, the problem is leaking of information and whose fault is it?
Isn't that our own fault too for giving too much information to them just so we could use the best features of their companies?
That is why we are all here. We want privacy. We want freedom but yet this companies will need to abide by the rules of their government or else they will be shut down.

Its indeed speculative and you can't easily get rid of it particularly these days that people are using internet to deceive others, well I think you should know that you can't trust anything because you don't know their true intention. They will probably use it on something and that is the reason why people should be aware and cautious when it comes to these kind of things because they will take advantage of you no matter what you do, it depends on you if you are falling onto it. You can't trust someone even your friends with your personal data unless you've known them for years and you know their way of thinking.

[Capt00]

It's not surprising that Coinbase would be involved in these sort of services, and they are one of the companies that are all about the bottom line, and maximizing their profits, even at the cost of the customer if it's necessary.

Some of this is unnerving though, I can't believe they would give these "credit check" companies this much information about their customers, but to be honest, I don't think any of them would bother with doing verification themselves, it'll be much too expensive and this is likely why they are working with all of these obscure companies.

It’s just sad that the only thing that matters to them is business and they don’t think about their costumers welfare. They forgot that it was all because of it’s customers that they are able to succeed as a business and that with this they might lose customers and worst it they will lose the business because I think no one would want thier information exposed to any third parties.

[target]

For those who are fond of doing KYC just because they want to get some few dollars from an ambiguous exchange. Am always cautions of my identity online and not to expose myself. We  must be cautions of these exchanges that are been use by government agencies to get investors data. The last thing I will do to get few dollars is KYC.

What exactly are you insinuating? can you tell me that in your years of been in crypto that you haven't done any kyc in any platform be it exchange or not? there is nothing wrong if someone do kyc as requirement of the platform he is dealing, but it is wrong when this platform decided to exploit this entrusted personal information without any shame.

All companies conspire together to collect data from the internet.
If you have done it once then your name and documents are already on their files. There is just no one can stay stealth unless you have not tried it before. We're not criminals anyway. But I'm not sure what they are going to do with your information if you start to hid yourself from now on using VPN and TOR and not using CEX. If IRS is going to send you letter next year, you can probably reason the coins were long gone. Hacked by someone or whatever.

[migws]

Coinbase is sharing information about your account with third parties, which may include information such as: how often you open the app, which devices you open it from, and what the IP address of those devices is. Absolutely unacceptable behavior.

Source: NY times https://www.nytimes.com/2019/11/04/business/secret-consumer-score-access.html

I have been following Coinbase for about 2 years and this is not the first time for the exchange. The exchange was already involved in selling personal customers data in the dark web and etc. Be careful with this, Coinbase is dangerous. In my opinion, this is really absolutely unacceptable behavior.

[Ayiranorea]

That's why it's always important to read the privacy policy of websites before we agree to them for all we know, our information which was supposed to be safe are being given out to who knows what but in the case of Coinbase I am sure that their customers agreed to it willingly and they can't be faulted if they didn't read their Privacy policy.

Well said, we never go through the privacy policy which were quite often updated. If we've read the privacy policy and then agreed this could've never been a big issue. Coinbase has a good reputation among the entire list of exchanges. This is why people always expect for a decentralized platform for trading needs. Right now we've got decentralized exchanges, but due to low liquidity it hasn't got used much. Maybe in future more people will start avoiding centralized exchanges who request to complete KYC.

[qwertyup23]

Coinbase is sharing information about your account with third parties, which may include information such as: how often you open the app, which devices you open it from, and what the IP address of those devices is. Absolutely unacceptable behavior.

Source: NY times https://www.nytimes.com/2019/11/04/business/secret-consumer-score-access.html

Oh this is actually surprising! I mean, one of the things on why I heavily recommend coinbase is due to their security and reliability. Back when its website was hacked and thousands of coins were scammed, some got reimbursed by the site which is something that is unique to their system.

Upon knowing that they leak my information online, I am convinced that I should replace and switch to my local wallet instead as this may cost and endanger my identity/personal life in the future.