Horrible scenes nested in this thread of another person slapped with Coinbase’s unwieldy risk management systems 

1. ZachXBT stepping in to claim what we are all witnessing here is clumsy fraud protection by CB and that their fraud issues are wholly unique to them. “Out of touch leadership” Promises dedicated thread 
https://x.com/zachxbt/status/1880045353648681354

2. Prominent crypto investor saying he got slapped 2x in 2 weeks by fraud detection (remember this can freeze your account for months) https://x.com/mdudas/status/1880043987920384096

The injury to insult of course is that for the past year++ we have had it crammed down our throats about how Coinbase is “MEI” a perfect meritocracy and “only hire the very best people”. I am sure someone can explain to me how those very best people wind up here

@BlockchainBoyy @US_SupremeShort @brian_armstrong @coinbase Coinbase has a large fraud problem they have not disclosed publicly before and the “solution” is falsely blocking legitimate users.

@BlockchainBoyy @US_SupremeShort @brian_armstrong @coinbase I receive inbounds every week from Coinbase users falling for targeted social engineering scams which result in millions of dollars of losses each month.

Coinbase does not help the victims and no other major exchange has this same issue.

The leadership is completely out of…

ZachXBT

Hey @brian_armstrong, 

Can you tell my fiance that we can't get married at the venue we picked because @coinbase:

- refused to let me withdraw my deposit 
- won't let me access my funds for another 2 months

I've had the same bank account since I first got into crypto with… https://t.co/bYfqSZNpuG

@US_SupremeShort @setanimals @brian_armstrong @coinbase This happened to me last week. 

It was resolved after I tweeted about it. 

It then happened to me *again* earlier this week. I wasn’t going to tweet about it, but the fact it’s so rampant is insane. 

Something is wildly off in their risk management systems.

Mike Dudas

The Farcaster formerly known as Kchamp. Books, beats, bodybuilding, bright ideas and beautiful things.

katherinechampagne.com

Coinbase is subject to Moloch like everyone else.  They aren't special - they are the same.