Michaela
Coinbase CEO Brian Armstrong revealed that the platform has cut down on unnecessary user account freezes by 82%, following a focused effort to address what he described as a significant pain point for customers.
According to a June 6 post on X, Armstrong admitted that the issue of account freezing has persisted for longer than it should have. “I could list a bunch of the underlying reasons why it got so bad in the first place, but what’s more important is that we’ve made it a priority to fix, and we have been making good progress,” Armstrong wrote.
Armstrong reported that the problem has been reduced by 82% to date, and assured users that additional enhancements are underway, with updates to be provided as progress continues.
“But if your account is still restricted (not for sanctioned or illegal activity) please DM [Coinbase Support] and we’ll prioritize getting it looked at ASAP,” he wrote.
Account restrictions have long been a source of frustration for many Coinbase users, with reports of abrupt freezes lasting several months or more, prompting some to leave the platform altogether.
Numerous users responded directly to Armstrong’s X post, expressing their frustrations and emphasizing the challenges they have faced with the platform, seeking assistance for unresolved issues.
One user urged Armstrong to address ongoing customer service challenges at Coinbase. In response, Armstrong asked the user to specify the most significant issues they have encountered.
“At Coinbase, it is extremely hard to speak to a live customer service person. Can take forever to track someone down. This makes no sense when your soon to be competitors (other trading houses) are getting into the game and will eat your lunch on service alone,” the user responded.
Coinbase has faced mounting scrutiny in recent months, with user trust shaken not only by longstanding platform issues but also by a recent insider data breach. According to reports, the company was allegedly aware of the security incident as early as January but delayed public disclosure until months later, raising concerns over transparency and internal oversight.
Additionally, Coinbase confirmed that the recent security breach exposed various forms of sensitive customer data. The compromised information includes full names, contact details, partial Social Security numbers, limited banking details, and images of government-issued IDs such as passports and driver’s licenses.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
