Coinbase Fixing Account Restrictions Plaguing Users
Coinbase CEO Brian Armstrong announced an 82% reduction in unnecessary account restrictions, addressing a significant issue for users. Account freezing has been a long-standing problem, prompting many users to abandon the platform. Armstrong urged users with frozen accounts to contact Coinbase Support. Recent frustrations were exacerbated by a data breach exposing over 70,000 customer accounts. Dor Levi, a new product team member, has focused on improving account restrictions through investments in machine learning and infrastructure. Despite progress, Levi acknowledged that user experiences still fall short of expectations. Coinbase will continue to enforce legal account restrictions while enhancing security measures following the data breach incident. Users have reported lengthy account freezes and difficulties in reaching customer support. Coinbase maintains over 100 million users and is a leading custodian of Bitcoin exchange-traded funds.
