Coinbase Partner Denied Company’s Claim of Selling Data – Controversial Neutrino Acquisition On New Turn

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Coinbase Partner Denied Company’s Claim of Selling Data – Controversial Neutrino Acquisition On New Turn

Yet another debate raised up for Coinbase exchange. While the firm intends to end up the controversial Neutrino acquisition discussion (going on since so long), Coinbase’s client took to Twitter, denying the claim that the executive of Coinbase made in a recent interview.

Highlights of the controversial event so far (Topic simplified)

Feb 19 – Coinbase acquired Neutrino team and confirmed it via an official blog

Feb last week 

  • Mounting Debate on the acquisition of Ex-Hacking team of Neutrino
  • The company responded to the reason behind its acquisition
  • #DeleteCoinbase Boycott Captured Company’s attention

March 01 – Coinbase’s Director of Sales Explains why acquisition was Important and claimed ‘platform’s previous analytics provider indulged in ‘selling client data to outside sources’.

March 04 – Coinbase pushed out Ex-Hacking team behind Neutrino, claiming that they didn’t properly evaluate everything in view of mission and value as a crypto firm.

March 04 – Elliptic, the Coinbase partner denies Coinbase’s claim of selling exchange’s customer data

March 05 – Coinbase clarifies, the exchange itself never shared customer data with any third party analytics service provider

Christine Sandler who is the director of institutional sales at Coinbase had recently discussed Neutrino acquisition and claims the previous analytics providers were reportedly selling client’s data to outside sources – following the heating bulletins on her claim, now Coinbase reports that she misspoke it.

But as seen, such claims cannot go unnoticed – consequently, Coinbase’s partner Elliptic denies the allegation reported last Friday in an interview. The CEO of Elliptic, James Smith took to Twitter and explained his response to how his firm works with client data.

In a blog post, he discussed about ‘personally identifiable information’ with exchange clients like Coinbase;

Elliptic has no access to end users’ personally identifiable information. Our exchange clients, including Coinbase, do not provide us with any personally identifiable information about their users. Our clients use our solutions to screen specific transactions for risk. We do not require or request any transaction data that we can link to individuals and do not have any other client information such as names, addresses or social security numbers.

Addressing these situations, Coinbase reports that;

“never shared our customers’ personally identifiable information with any third-party blockchain analysis vendors.”

However, it wasn’t known which former client that Coinbase’s Sandler was addressing to – further the type of data which was in the high debate had also kept in secret. Indeed, it’s a fact that the blockchain companies as a part of their proprietary products, sell aggregate wallet data but without the name or identifying personal information.

So for now – Coinbase’s former client responded to Sandler’s claim and Coinbase clarified that she misspoke and nothing involved as such. There’s no further comment from Coinbase and Ellipit’s Smit, Share your thoughts what do you think on this nightmare for Coinbase so far!

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Coinbase Partner Denied Company's Claim of Selling Data - Controversial Neutrino Acquisition On New Turn
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Coinbase Partner Denied Company's Claim of Selling Data - Controversial Neutrino Acquisition On New Turn
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Yet another debate raised up for Coinbase exchange. While the firm intends to end up the controversial Neutrino acquisition discussion (going on since so long), Coinbase’s client took to Twitter, denying the claim that the executive of Coinbase made in a recent interview.
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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. Reach out to her at [email protected]