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Topic: [2014-08-28] Coinbase Publicly Announces It’s Holding Insurance Against Theft/Lo (Read 1159 times)

legendary
Activity: 1450
Merit: 1013
Cryptanalyst castrated by his government, 1952
I find it ironic that the two posters so far have ads for gambling sites below their posts. In case you haven't heard, Coinbase has come under strong criticism recently for allegedly cancelling accounts of users (anywhere in the world) who might have used coins "tainted" by being used at a gambling site.

Their new press release describing insurance coverage which is many months old is just damage control after their recent bad press over the gambling issue, I speculate.

Regardless, be very wary if you use gambling sites and also use Coinbase: https://bitcointalksearch.org/topic/m.8503380
legendary
Activity: 1568
Merit: 1001
Glad to hear, they are the easiest way for Americans to get ahold of Bitcoin at the moment.
sr. member
Activity: 434
Merit: 250
http://newsbtc.com/2014/08/27/coinbase-publicly-announces-holding-insurance-theftloss-bitcoins/

San Francisco-based Coinbase has published an interesting blog post on Wednesday, which essentially serves a means of comforting its users.

In short: the company announced that it holds insurance against both theft and loss of the bitcoin they hold — much of which belongs to its over one million users.
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