Coinbase, one of the largest cryptocurrency exchanges, recently deleted a user’s account without any explanation. The user had over $600,000 worth of crypto assets on the platform.
This isn’t the first time that Coinbase has deleted a user’s account without any explanation. In November of 2017, Coinbase deleted the account of a user who had over $150,000 worth of crypto assets on the platform.
Coinbase has been increasingly strict with its user verification process. In December of 2017, Coinbase implemented a new KYC (Know Your Customer) policy which requires users to verify their identity with a government-issued ID.
It’s possible that Coinbase is deleting accounts that it can’t verify. It’s also possible that Coinbase is deleting accounts that it deems to be high-risk.
NOTE: WARNING: Coinbase has the right to delete any account at any time for any reason. If your Coinbase account has been deleted, you may not be able to recover any funds associated with it. Therefore, it is important to keep your own records of all transactions on Coinbase and off-site backups of your wallets. Additionally, please be aware that Coinbase may delete an account if they suspect it has been used for illegal activities or fraud.
Whatever the reason, it’s clear that Coinbase is deleting accounts without any explanation or transparency.
If you have a Coinbase account, you should be aware that your account could be deleted at any time without any explanation. If you have a large amount of crypto assets on Coinbase, you should consider moving them to a different exchange.
Why Did Coinbase Delete My Account?
It’s unclear why Coinbase deleted the user’s account. It could be because Coinbase was unable to verify the user’s identity or because Coinbase deemed the account to be high-risk.
Whatever the reason, it’s clear that Coinbase is delete accounts without any explanation or transparency.
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