KYC Dilemma: US Secret Service Seizes $13k from Coinbase Customer
The United States Secret Service (USSS) has seized more than 25 bitcoins from a Coinbase account and seemingly converted them automatically to $13,000 USD, it has emerged. US Secret Service Seizes Funds. In an official notification dated today, USSS announced that on June 3 it had taken control of “$13,138.12 in U.S. Currency in Lieu of 25.0001538....
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In a crackdown against illicit transactions of digital assets linked to cybercrimes, the U.S. Secret Service has seized more than $102 million worth of digital assets, reported CNBC. Per the stats provided by the security agency, the seized crypto wealth is recovered from 254 cases targeted since 2015. Related Reading | Crypto May Be Used […]
A Coinbase customer complains about the poor response from Coinbase customer support as the platfrom shuts down his account citing FinCEN regulations. The advancement in technology has drastically changed the travel patterns of an average human. People cover more miles, across geographies due to the increased need to travel for business and pleasure. Bitcoin, being a truly global currency has emerged as a champion for those who are constantly moving. While everyone praises Bitcoin for making it easy to spend money anywhere across the world without having to worry about conversion rates,....
The U.S. Secret Service has launched a cryptocurrency awareness hub. The new platform “will feature the latest in the agency’s work combating illicit use of digital assets as well as provide public awareness information on digital asset security and how to ensure it remains secure.” Secret Service’s Crypto Awareness Hub The....
A new investigation has revealed hundreds of Coinbase customer complaints around hacking and lost funds, drawing attention to the customer experience at crypto exchanges. Popular cryptocurrency exchange Coinbase recently amassed a panoply of customer service complaints regarding account locking, hacking and even lost funds.A recent tweet by crypto analyst Kaleo garnered hundreds of comments from users all sharing stories of their unfavorable experiences with the exchange. This isn’t the first time the firm has received public backlash over it’s customer service practices. Back in March,....
Jeffrey Berns, an attorney representing Coinbase in its legal fight against the Internal Revenue Service summons to provide customer information, recently filed a response to the “John Doe” summons, asking the court to quash the summons in its entirety, order a limited hearing and discovery into government’s good faith, or reconsider its decision to grant the IRS petition. Berns’ motion calls the IRS summons “unprecedented use” of the IRS John Doe summons procedure. Coinbase has said it is committed to customer privacy and opposes the government’s efforts to gain customer information.....