Coinbase brazenly stealing customer funds. Let's boycott them!

kingcolex

sr. member

Activity: 254

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Quote from: Lionidas on July 28, 2016, 03:38:04 PM

Quote from: Shiroslullaby on July 27, 2016, 05:06:01 PM

Wow that's super shady...
I've been using Coinbase to buy a little bit of BTC because it was so easy and the fees were low.
But idk how I feel about supporting a company that does something like this.

I know the ETH fork is causing issues for everyone, but its a on the company to take the loss if something happens, not pass the loss onto your customers.
That is the price of doing business. The image of your brand in the long run should be worth more than the few dollars you would lose IMO.

From reading all this it doesn't seem they know what the hell they are doing or how to run a proper exchange. WTF is all this?! Shocked

They might honestly be struggling on what steps to take with Ethereum, they know there is room to make money but are confused with all the shit going on with it.

truxton

hero member

Activity: 771

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Quote from: QuestionAuthority on August 02, 2016, 09:31:35 AM

Quote from: truxton on August 01, 2016, 06:19:52 AM

This is why the Blocknet will be huge. Nobody will have to reply on exchanges anymore. https://bitcointalk.org/index.php?topic=829576.6140

Yeah, Blocknet is the future. It will put all these crooked exchanges out of business and truly remove government oversight from our money.

QuestionAuthority

legendary

Activity: 2156

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You lead and I'll watch you walk away.

Quote from: truxton on August 01, 2016, 06:19:52 AM

This is why the Blocknet will be huge. Nobody will have to reply on exchanges anymore. https://bitcointalk.org/index.php?topic=829576.6140

Yeah, Blocknet is the future. It will put all these crooked exchanges out of business and truly remove government oversight from our money.

Hellacopter

hero member

Activity: 742

Merit: 500

Coinbase is famous exchanger platform, but in the other hand we see many negative feedbacks about them wherever, so i think it is always better to avoid using the exchangers wallets and store your coins in your owned downloaded wallet

truxton

hero member

Activity: 771

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This is why the Blocknet will be huge. Nobody will have to reply on exchanges anymore. https://bitcointalk.org/index.php?topic=829576.6140

marky89

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Quote from: Lionidas on July 28, 2016, 03:38:04 PM

Quote from: Shiroslullaby on July 27, 2016, 05:06:01 PM

Wow that's super shady...
I've been using Coinbase to buy a little bit of BTC because it was so easy and the fees were low.
But idk how I feel about supporting a company that does something like this.

I know the ETH fork is causing issues for everyone, but its a on the company to take the loss if something happens, not pass the loss onto your customers.
That is the price of doing business. The image of your brand in the long run should be worth more than the few dollars you would lose IMO.

From reading all this it doesn't seem they know what the hell they are doing or how to run a proper exchange. WTF is all this?! Shocked

Clearly they don't. They were very brazen about their approach to ETH's hard fork, and Brian/Fred are incredibly brazen about their approach towards a hard fork in BTC.

Don't have a screenshot, but Charlie Lee did state in the Core slack that they had only 4 days to prepare for this fork, ETH devs told them to ignore the ETC fork, and they made a bad decision not to protect the ETC. At least they are accepting some blame.

But now will they still steal everyone's ETC that was sent to them post-fork?

isvicre

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Activity: 826

Merit: 1000

Quote from: ?? on ??

Quote from: QuestionAuthority on July 28, 2016, 09:27:30 AM

Quote from: ?? on ??

Quote from: QuestionAuthority on July 28, 2016, 09:12:33 AM

They're murricans for christs sake!

If you guys don't stop badmouthing Coinbase Barack Hussein Obama will shoot drones at ur house.

Only maybe if you live in Syria, then all bets are off but if you're American or European I wouldn't worry Wink

Oh yeah, I forgot. We only kill men, women and children we don't care about. Which is everyone on the planet except murricans. lol

Yes I forgot how uncaring America is to other nations. We only spend $35 billion dollars on foreign aid, we were/are the only buffer from a Russian controlled Europe. We protect South Korea, Japan, Philippines and make sure China doesn't over reach in the south sea. We try to stop terrorism in the middle east and are looked to after any global issue. I guess we just don't do our part.

Most Africans now prefer Chinese investment to American 'aid'. At least the deala are simple with tbe Chinese, aid from America always comes with many strings attached.

As for the rest it's just propaganda.

Lionidas

hero member

Activity: 1008

Merit: 1012

Quote from: Shiroslullaby on July 27, 2016, 05:06:01 PM

Wow that's super shady...
I've been using Coinbase to buy a little bit of BTC because it was so easy and the fees were low.
But idk how I feel about supporting a company that does something like this.

I know the ETH fork is causing issues for everyone, but its a on the company to take the loss if something happens, not pass the loss onto your customers.
That is the price of doing business. The image of your brand in the long run should be worth more than the few dollars you would lose IMO.

From reading all this it doesn't seem they know what the hell they are doing or how to run a proper exchange. WTF is all this?! Shocked

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: ?? on ??

Quote from: QuestionAuthority on July 28, 2016, 09:27:30 AM

Quote from: ?? on ??

Quote from: QuestionAuthority on July 28, 2016, 09:12:33 AM

They're murricans for christs sake!

If you guys don't stop badmouthing Coinbase Barack Hussein Obama will shoot drones at ur house.

Only maybe if you live in Syria, then all bets are off but if you're American or European I wouldn't worry Wink

Oh yeah, I forgot. We only kill men, women and children we don't care about. Which is everyone on the planet except murricans. lol

Yes I forgot how uncaring America is to other nations. We only spend $35 billion dollars on foreign aid, we were/are the only buffer from a Russian controlled Europe. We protect South Korea, Japan, Philippines and make sure China doesn't over reach in the south sea. We try to stop terrorism in the middle east and are looked to after any global issue. I guess we just don't do our part.

The stuff your talking about is self interest. Of course murrica protects her own interests. It would be stupid for a superpower not to do it. We spend enough overseas protecting oil interests alone to make every homeless person in America a millionaire, provide all Americans with healthcare and provide real humanitarian aid to countries in need (not just token aid).

If we pulled out of the places where our meddling is unwanted (like South Korea, the P.I., the Middle East) we might not have terrorists trying to blow up anyone that supports us. America created a lot of the problems she now faces by becoming the biggest bully on the block decades ago. Eventually the other kids are going to stick up for themselves.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: ?? on ??

Quote from: QuestionAuthority on July 28, 2016, 09:12:33 AM

They're murricans for christs sake!

If you guys don't stop badmouthing Coinbase Barack Hussein Obama will shoot drones at ur house.

Only maybe if you live in Syria, then all bets are off but if you're American or European I wouldn't worry Wink

Oh yeah, I forgot. We only kill men, women and children we don't care about. Which is everyone on the planet except murricans. lol

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

They're murricans for christs sake!

If you guys don't stop badmouthing Coinbase Barack Hussein Obama will shoot drones at ur house.

Whosdaddy

hero member

Activity: 1148

Merit: 527

Why am I feeling that the past is about to redo itself again? I meant the Gox and Cryptsy.
I never use coinbase even though their popularity is at the peak among online wallets and exchange platforms. Still, I am having some faith on coinbase by remembering their contribution to the growth of bitcoin ecosystem. Let's hope of good things only to happen.

illyiller

hero member

Activity: 697

Merit: 520

I'm simply embarrassed for these guys. People are still replay attacking them. I guess Charlie was serious -- they seem to have no intention to fix the exploit by separating their ETH and ETC into unique addresses. WTF is wrong with them?

Still working as of a few minutes ago:
https://twitter.com/desantis/status/758563178854875136

This is basic stuff. None of the other exchanges fell prey to this AFAIK. Embarrassing.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

I refuse to use the services of the ones who were behind the Gavin fork. I think Coinbase's CEO was one of them who was pushing for XT. That move was driven by self interests, their hidden agenda and a total lack of concern for the bitcoin community.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

How can you not trust Coinbase? They're in murrica an fully comply with the lawz. The murrican govt will get ur banking info from them faster than they could get it from Wells Fargo. What's not to love?

illyiller

hero member

Activity: 697

Merit: 520

This is pretty messed up. Charlie Lee was in the Slack detailing Coinbase's position. They are indeed refusing to honor deposits to keys which they control.

A couple points to note:

1) Coinbase made a conscious decision not to protect customer ETC.
2) The ETH Foundation told Coinbase to ignore the prospect of replay attacks.
3) Coinbase did nothing to prevent replay attacks.
4) "We were under no obligation to care about anything else sent to our ETH addresses."
5) "We have not closed the loophole. We may or may not."

https://twitter.com/desantis/status/758442180683960320
https://twitter.com/desantis/status/758443264676618240

JeffBrad12

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Activity: 2954

Merit: 533

Leading Crypto Sports Betting & Casino Platform

Quote from: erikalui on July 27, 2016, 01:03:32 PM

Now this sounds scary. I shifted from Xapo to Coinbase and now Coinbase taking away user's funds makes them look so shady. Do they do it to BTC users as well where they can just keep all our bitcoins and refuse to return the same? I thought they were only freezing accounts dealing with gambling or other illegal websites.

Well, coin base more and more become a worst site, but I sure it's will never happen with coin base and important they're having a partnerships with PayPal. but where from you can know if the freezing account is dealing with gambling or other illegal websites?

NyeFe

hero member

Activity: 699

Merit: 501

I've never used a centralized exchange before. I still don't understand why people leave funds in them! at the least, purchase sub -$150.00 of BTC at a time and dump them into a cold wallet or even in blockchain.info. There's no need to leave your funds in an exchange because they have a fancy web design.

topiOleg

full member

Activity: 174

Merit: 100

Quote from: Raimonn on July 27, 2016, 05:56:55 PM

storing your coins on exchanges isn't a good solution, on a fork it depends on its decision.

You basically say the exchange can give you the worthless coin, and keep the valuable one, no questions asked. Maybe exchanges could initiate the forks with some hash rate themselves, and decide what is best for them. Fortunatelly its called stealing, and you definitively have case for a lawsuit.

Raimonn

legendary

Activity: 1470

Merit: 1001

This is another good example of why users have to care about its private keys (if you don't have the private key, you don't have the coins), storing your coins on exchanges isn't a good solution, on a fork it depends on its decision.

Topic: Coinbase brazenly stealing customer funds. Let's boycott them! (Read 1689 times)