Coinbase CEO Admits ‘Diligence’ Failing, Boots Ex-Hacking Team Employees
Coinbase CEO Brian Armstrong has responded to criticisms about betraying the values of Bitcoin and crypto more broadly with its recent acquisition of Neutrino.
Those Neutrino team members who previously worked at Hacking Team will “transition out of Coinbase,” the chief executive said late Monday. Hacking Team, one may recall, was a pioneer in selling hacking tools exploited by authoritarian governments to crack down on journalists and dissidents instead of criminals.
Reiterating that “Neutrino had some of the best technology” among blockchain analytics providers, Armstrong explained in a blog post:
“However, we had a gap in our diligence process. While we looked hard at the technology and security of the Neutrino product, we did not properly evaluate everything from the perspective of our mission and values as a crypto company.”
“We took some time to dig into this over the past week, and together with the Neutrino team have come to an agreement: those who previously worked at Hacking Team (despite the fact they have no current affiliation with Hacking Team), will transition out of Coinbase. This was not an easy decision, but their prior work does present a conflict with our mission.”
CCN |
https://www.ccn.com/coinbase-ceo-admits-diligence-failing-boots-ex-hacking-team-employees