Crypto exchange Coinbase has been criticised by its users after customers reported unjustified account closures. The company claims that the problem arises from a significant increase in fraud attempts following the US presidential election. According to Coinbase, allegations are false and just FUD.
They tried to clarify the situation on Twitter, stating that increased activity in November tripled the number of fraud attempts, which led to tighter protection systems. Coinbase claims to have prevented millions of dollars in customer damage as a result. However, the company acknowledges that new security measures have caused more account restrictions and longer customer service handling times.
Despite Coinbase’s reassurance, many users did not accept the explanation, citing examples of unjustified restrictions and dissatisfaction with customer service.
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