Cryptocurrency exchange Coinbase has refused to sell sensitive user data to the US government.

A day ago, the media circulated the news that Coinbase had transferred customers’ geographic locations and transaction histories to the Immigration and Customs Enforcement (ICE) unit of the US Department of Homeland Security. Platform Users declaration He “didn’t follow this” on Twitter.

In August 2021, Coinbase sold its analytics software license to ICE for $29,000. A month later, the exchange signed a software transfer agreement with the agency for $1.36 million.

According to the Tech Inquiry research group, US authorities have gained access to several features of the Coinbase Tracer user data tracking tool, formerly known as Coinbase Analytics.

According to representatives of the platform, they only pass information on to the authorities for the investigation of financial crimes.

“Coinbase Tracer tools were created in accordance with government requirements and are used to investigate crimes related to terrorist financing and money laundering. The shared information comes only from publicly available sources, not Coinbase user data.”

The exchange emphasized that ensuring the safe and secure operation of the platform’s customers is its top priority.

Remember Coinbase products are gaining traction in 2020 DEA and IRS. They planned to use Coinbase Analytics software, formerly known as Neutrino.

The exchange acquired Neutrino in 2019 and was criticized. The founders of an Italian startup were involved in the Hacking Team project, which sells spyware to dictatorial regimes.

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