Saturday, June 22, 2024

Class Action Lawsuit

By DAC000 , in coinbase Regulation , at August 18, 2022 Tags: ,

against Coinbase, launched by plaintiff who claims the firm didn’t protect user funds from unauthorised access. About a one minute read.

Comment: ok, this has a couple dimensions to it. First of all, regulated entities have fiduciary and all too often entities like Coinbase don’t behave in a way that acknowledges this responsibility. That will change as regulations tight. Second, the expression “not your keys not your coins” rings true. NEVER leave your crypto on an exchange. Get a non custodial wallet, preferably hardware, and transfer immediately after purchase. That is exactly what I do and have done for years. Best practice.