Coinbase CEO Brian Armstrong said crypto exchanges cut unnecessary restrictions on users by 82%, a “main issue” for the exchange.
In the June 6 x post, Armstrong admit The frozen account “was longer than acceptable”, and it has become a top priority for its company’s improvement.
“The issue has been reduced by 82% so far, and we will provide you with the latest developments as further improvements are launched,” Armstrong said.
Coinbase users are frustrated Account limit for many years, The sudden freeze of the report lasted for several months or more, prompting some to abandon the platform.
Recently, customers’ confidence in Coinbase has also been recently Quality data breach This reveals details of over 70,000 customer accounts.
Armstrong attributes the progress to Dor Levi, a member of the Coinbase product team, who joined the board nine weeks ago with the main goal of determining account restrictions.
In his own post explain Make a “significant investment” in Coinbase’s machine learning model and infrastructure.
“We improved the accuracy and recollection of all models, and therefore, there was less restriction/freeze.”
Armstrong and Levitra pointed out that Coinbase will continue to enforce account restrictions imposed by court orders and sanctions.
Levi said despite a lot of progress, he acknowledged that as a Coinbase user himself, the account restriction experience still cannot satisfy his “own bar”.
I’ve joined @coinbase The goal 9 weeks ago is crucial: identify unnecessary account restrictions.
If you are on CT, you will know how important this issue is to the user. I am a Coinbase user myself and our limited experience does not match our own bar.
The goal is clear: the account… pic.twitter.com/zvgum3qszi
-dor(@dorvonlevi) June 6, 2025
Coinbase users say they have been locked for months
In response to Armstrong’s post, an X user explain They’ve been completely locked in a shared account for two years, and the other explain They endured an eight-month freeze and gave up on the platform.
Another X user attributed the lengthy account to Coinbase’s customer support team.
“In Coinbase, it’s hard to talk to on-site customer service staff,” they explain, Added, “Tracking someone may always be necessary.”
Related: Coinbase realizes recent disclosure of data leaks since January: Reuters
It’s also true of the case planning Illegal actor bribes their overseas customer service agents to access government-issued ID photos and Home address In December last year, there were about 70,000 Coinbase customers. this Events are disclosed only In mid-May.
https://t.co/evpibmfvrw pic.twitter.com/f6updkl5r0
– Brian Armstrong (@brian_armstrong) May 15, 2025
A X user even claim Their family lost Bitcoin (BTC) and ether (ethereth) They believe that they believe it is related to the recent shared data breach.
Coinbase remains one of the world’s largest cryptocurrency exchanges, with over 100 million users and the largest custodian on site Bitcoin exchange trading funds.
Magazine: Coinbase Hack Shows Laws May Not Protect You: Here’s Why
