Coinbase CEO Brian Armstrong mentioned the crypto change has decreased pointless consumer account freezing by 82%, after figuring out it as a “main challenge.”
In a June 6 X put up, Armstrong acknowledged that account freezing has been an issue “for longer than is suitable,” and that it has change into a high precedence for his agency to enhance.
“The problem has been decreased by 82% thus far, with extra enhancements coming. We’ll preserve you up to date as additional enhancements roll out,” Armstrong mentioned, earlier than asking all clients with frozen accounts to contact Coinbase Assist.
Coinbase customers have expressed frustration over account restrictions for years, reporting sudden freezes lasting a number of months or longer, prompting some to desert the platform.
Buyer confidence in Coinbase was additionally not too long ago shaken by a mass knowledge breach that uncovered the small print of greater than 70,000 buyer accounts.
Coinbase says fewer restrictions attributable to improved fashions
Armstrong credited the progress to Dor Levi, a member of Coinbase’s product group, who got here on board 9 weeks in the past with the first purpose of fixing the account restrictions.
In a put up of his personal, Levi mentioned a lot of the progress has come from making “important investments” in Coinbase’s machine studying fashions and infrastructure.
“We’ve improved the precision and recall of all our fashions, and are seeing fewer restrictions/freezes in consequence.”
Coinbase will proceed to implement account restrictions imposed by court docket orders and sanctions to stay compliant with the legislation, Armstrong and Levi famous.
Regardless of the progress, a lot work stays, mentioned Levi, who admitted that as a Coinbase consumer himself, the expertise with account restrictions nonetheless doesn’t meet his “personal bar.”
I joined @coinbase 9 weeks in the past with a significant purpose: fixing pointless account restrictions.
In case you’re on CT, you understand how important this challenge has been for customers. I actually am a Coinbase consumer and our restriction expertise will not be assembly my very own bar.
The purpose is evident: Account… pic.twitter.com/zvGuM3QSZi
— Dor (@dorvonlevi) June 6, 2025
Coinbase customers say they’ve been locked out for a number of months
In response to Armstrong’s put up, one X consumer mentioned they’ve been fully locked out of their Coinbase account for over two years, whereas one other mentioned they deserted the platform after enduring an eight-month freeze.
One other X consumer attributed the prolonged account freezes to Coinbase’s buyer assist group.
“At Coinbase, this can be very arduous to talk to a reside customer support particular person,” they mentioned, including that it “can take perpetually to trace somebody down.”
Associated: Coinbase conscious of not too long ago disclosed knowledge leak since January: Reuters
Coinbase can also be planning to strengthen its safety measures after illicit actors bribed a few of its abroad customer support brokers to entry government-issued ID images and residential addresses of round 70,000 Coinbase clients final December. The incident was solely disclosed in mid-Could.
https://t.co/evpIBMFvRW pic.twitter.com/f6UPdkL5R0
— Brian Armstrong (@brian_armstrong) Could 15, 2025
One X consumer even claimed {that a} household pal of theirs misplaced Bitcoin (BTC) and Ether (ETH) in a rip-off that they imagine was linked to the latest Coinbase knowledge breach.
Coinbase stays one of many world’s largest crypto exchanges, with over 100 million customers and is the biggest custodian of the spot Bitcoin exchange-traded funds.
Journal: Coinbase hack exhibits the legislation most likely gained’t shield you: Right here’s why
