It can take years to build a brand and yet only 2 weeks to kill it. Join Christina and Jesse as they analyze and discuss the case of #deletecoinbase. It turns out that when privacy, security and civil liberties are violated people get really angry, start global movements and delete their accounts. Go to https://www.kraken.com/ to buy, sell or trade crypto with an exchange that is built on values like security, privacy and civil liberties. Go to #deletecoinbase to learn more about the topics discussed in this video.
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Episode 5:
Coinbase knowingly acquired a blockchain analysis solution (Neutrino) that consists of former members of HackingTeam, hackers who sold malware (malicious software) to oppressive, corrupt governments to help them identify and kill journalists or activists who appeared to challenge their power or question their rules.
HackingTeam was hacked in 2015 (workers were using passwords like P4ssword, wolverine, and universo) which is how we know so much about their ops, like how they may have placed backdoors (secret portals that give them unapproved access) into the malware they sold to oppressive regimes. https://motherboard.vice.com/en_us/article/kbzjdz/leaked-emails-show-hacking-team-lied-to-its-rascal-customers
The acquisition announcement was made Feb 19, 2019. On Feb 26, an article highlighted the controversial background of Neutrino.
Since then, people who care about privacy, security, human rights, autonomy from government, not being murdered Human rights include the right to life and liberty, freedom from slavery and torture, freedom of opinion and expression, the right to work and education, and many more. — AKA basic human rights, as well as crypto values and ideals — have tweeted #deletecoinbase and deleted their CB accounts.
On March 1, Coinbase Head of Sales said during a video recorded interview that they knew the backgrounds of Neutrino and were desperate for their tech because their current blockchain analysis was “selling client data to outside sources and it was compelling for us to get control over that.” https://cheddar.com/media/coinbase-adds-support-for-ripple-s-xrp-despite-regulatory-uncertainty
This escalated the #deletecoinbase movement since this implies a concealed client data breach. Users have reported that Coinbase is not allowing them to close or delete their accounts.
On March 4, Brian Armstrong (Coinbase CEO) wrote a blog post which achieved the opposite effect that he was striving for -- it made people more mad. We explain why in this episode. https://blog.coinbase.com/living-up-to-our-values-and-the-neutrino-acquisition-ba98174cdcf6 On March 6, Coinbase claimed that Christine Sandler “misspoke” and there was no client data breach. On March 7, it was reported that Coinbase acquired Neutrino in a $13.5 million deal.
Tweets referenced in the episode:
- Coinbase promoting storing key in the cloud https://twitter.com/CoinbaseWallet/status/1095386639105384448
- Nic Carter reportedly heard Coinbase execs pushing for heavy regulation https://twitter.com/nic__carter/status/1075743141255364609
- Kraken assessment of Neutrino as a solution https://twitter.com/jespow/status/1102346122138333184
- Tuur Demeester proposed a thorough list of Qs for Coinbase to answer about the client data breach https://twitter.com/TuurDemeester/status/1102205826872287232
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