Coinbase cryptocurrency exchange is one such name which is on limelight every day – especially in the month of February 2019. Founded in 2012, the exchange continued reaching the peak with huge user database around the world – but this trading platform is recently facing aggression from its major US audience following the latest Neutrino Hacking Team Acquisition.
#DeleteCoinbase Boycott Over Neutrino Acquisition
The aggression resulted in ‘boycott’ that runs on Twitter with the hashtag ‘#DeleteCoinbase’ – many Twitter followers in against the acquisition deal of Coinbase has followed the rally and eventually deleting their Coinbase account. In fact, such users are also sharing the snaps of their deleted Coinbase accounts as a shred of evidence to their anger – towards the purchase deal that Coinbase had signed recently.
Not that I’m @coinbase’s biggest customer by any stretch of the imagination, but I’m done.
— Udi Wertheimer (@udiWertheimer) February 27, 2019
I've deleted all my coinbase affiliate links from @freedomnodecom, donated my leftover balance (not much) to @btcven and deleted the account. You should #DeleteCoinbase too. If you want to make it more fun join the #DeleteCoinbaseTrustChain pic.twitter.com/Ect2skbWqV
— Mario Dian ⚡️ (@mariodian) February 28, 2019
Expert’s Research and Coinbase’s Respond
The antagonism of these users comes after few experts reveal the history behind team Neutrino – also, as I reported very recently, the founders of Neutrino were working with the hacking team as the lead executives to sell Hacking tools to Govt agencies. When this fact got viral, influential crypto figures such as Ari Paul, Francis Pouliot, and other crypto enthusiasts began debating on the controversial acquisition.
"Internal emails prove the company had control over its customers’ surveillance infrastructure, tagging malware and servers."
Can't run fast enough? Sell your bitcoins on Coinbase, buy a jetpack and GET THE FUCK OUT OF THEREhttps://t.co/O2tJwWrYyp
— Francis Pouliot 🐂₿ (@francispouliot_) February 20, 2019
Concerning the debate, Coinbase reached out to the media via email and responds to the key aspects that lead to debate. Indeed, in an email, Coinbase says ‘it doesn’t condone nor will it defend the actions of Hacking Team’. As a response to this allegation, Coinbase wrote in an email
aware that Neutrino’s co-founders previously worked at Hacking Team, which we reviewed as part of our security, technical, and hiring diligence. Coinbase does not condone nor will it defend the actions of Hacking Team, but it was important for Coinbase to bring this function in-house to fully control and protect our customers’ data and Neutrino’s technology was the best we encountered in the space to achieve this goal.”
Trending in the United State
Even after the response of Coinbase, nothing convinced the anger of a few Coinbase users. According to the analysis of Coingape, made via trends map, there are 62% US audience constantly tweeting and engaging in a conversation with #Delete Coinbase. Indeed, Cities that contributed at large to this boycott are NewYork with 24%, San Francisco with &%, Berlin with 7/5, Montreal with 5%, London with 5%, Dallas with 4%, Vancouver with 4% and Bangkok with 4% respectively.
Moreover, below goes the timeline activity of #DeleteCoinbase from Feb 27 to Feb 28 which is increasing every now and then
Nevertheless, Coinbase had multiple acquisitions so far and no acquisition had boycott as the Neutrino. In reality, the background that Neutrino founders are carrying is what it hinders to everyone who’s boycotting – FYI, the founders of Neutrino, namely Giancarlo Russo, Marco Valleri, and Alberto Ornagh were involved in selling hacking tools to Govt agencies. And that eventually became the key reason why Coinbase users are deleting their accounts.
Congrats to Coinbase on the acquisition of chain analysis startup Neutrino!
FYI, the CEO, Giancarlo Russo, was ex-COO of HackingTeam (https://t.co/qyQ6mLU8XE), who sold "offensive intrusion and surveillance capabilities to governments, law enforcement agencies and corporations." pic.twitter.com/VVza5AjIYa
— Arjun Balaji (@arjunblj) February 19, 2019
What’s your stake on Coinbase’s Neutrino acquisition? Do you also agree with the opinion of Twitter followers running the boycott? Or are you agree with Coinbase’s respond? Let us know your thoughts.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com