Coinbase Account Restrictions Spark Self-Custody Debate

🔒 Coinbase Users Left Hanging

By SX Bet
Dec 12, 2024, 5:42 PM
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Coinbase has implemented widespread account restrictions, citing user protection amid increased fraud following recent Bitcoin price movements.​ The action has affected numerous legitimate users, triggering significant community backlash.​

Key points:

  • Hundreds of users report locked accounts and restricted access to funds
  • Coinbase claims measures are to protect users from fraud
  • Incident highlights risks of centralized exchanges vs self-custody

The situation reinforces the importance of decentralized alternatives:

  • DEXs like Uniswap saw major growth in 2021 due to self-custody benefits
  • Sports betting platforms like SX offer direct wallet-to-wallet transactions
  • Self-custodial solutions prevent arbitrary account restrictions

Remember: Not your keys, not your crypto.​

Sources

1/ What would YOU do if your 6-figure crypto portfolio was locked indefinitely? Coinbase has been facing major backlash and FUD over the last 24 hours after they restricted a massive number of accounts 🚨 x.com/CoinbaseSuppor…

Coinbase Support
Coinbase Support
@CoinbaseSupport

1/ There’s a lot of FUD/misinformation out there about Coinbase restricting accounts.

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