Brian Armstrong, CEO of Coinbase, says that the highest exchanging encryption in the United States has significantly reduced account counterparts.
In a new post on the social media platform X, Armstrong He says Coinbase has made fixing an unjustified account of a top priority, while recognition of the problem lasted for a longer period.
“The freezing of the account has been a major problem in Coinbase for a longer period of acceptance. I can include a set of basic reasons that make it very bad in the first place, but most importantly is that we made the priority of reform, and we have made good progress …
The problem has been reduced by 82 % so far, with more improvements. We will keep you in constant knowledge of the additional improvements. ”
Armstrong is also a more timely response to customers whose accounts are frozen.
“If your account is still restricted (not for the punished or illegal activity), please send a message @Coinbaseesupport and we will prioritize this as soon as possible.”
Armstrong gives credit to a member of the Coinbase Dor Levi product, which was appointed in April, to achieve reform.
He says Levi,
“If you are in CT (Crypto Twitter), you know how important this problem is for users.
The goal is clear: the freezing of the account must be rare, limited to the situations that guarantee them, mainly when we are legally obligated (for example penalties or court orders) or protecting users (for example from fraud or concessions in the account). We are committed to obtaining this right.
Modern publications enabled us to make huge improvements without sacrificing our legal and organizational obligations or our safety commitment.
short:
- We have reduced the frequency of the account locks by almost 82 % so far, and new changes are currently spreading that will lead to more discounts.
- We have made significant investments in our ML models (automatic learning), infrastructure, modeling, and difference. To date, we have improved accuracy and reminding all our models, and we see fewer restrictions/freezing as a result.
- We have created handrails and checks/balances to ensure that you maintain focus on this and we will not stop repetition.
- We are also dealing with this problem from the other party by transferring operations such as checking the source of the debtor and improving KYC (know your customer) in the application. This means that most types of restrictions will have self -service flows to remove restrictions, which is more efficient than previous options. “
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Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.
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