Coinbase Responds to Reports of Selling Customer ‘Geo Tracking’ Data to US Government

The Nasdaq-listed cryptocurrency speech Coinbase has insisted that it does not merchantability “proprietary lawsuit data” aft reports surfaced that its Tracer merchandise is providing “historical geo tracking data” to the U.S. Immigrations and Customs Enforcement (ICE).

Coinbase Responds to Reports of It Selling Customer Data to U.S. Government

Cryptocurrency speech Coinbase came nether occurrence past week erstwhile reports surfaced accusing the Nasdaq-listed institution of selling lawsuit information to the U.S. government.

Coinbase Tracer, the analytics limb of the cryptocurrency exchange, has signed a declaration with U.S. Immigrations and Customs Enforcement (ICE) that would let the authorities bureau entree to a assortment of data, including “historical geo tracking data,” according to a contract obtained by watchdog radical Tech Inquiry.

However, Coinbase clarified connected Twitter Thursday: “We privation to marque this incredibly clear: Coinbase does not merchantability proprietary lawsuit data.”

“Our Coinbase Tracer tools are designed to enactment compliance and assistance analyse fiscal crimes similar wealth laundering and violent financing. Coinbase Tracer sources its accusation from nationalist sources, and does not marque usage of Coinbase idiosyncratic data. Ever,” the speech further tweeted.

However, galore radical connected Twitter bash not judge that Coinbase is not selling immoderate lawsuit information to the U.S. government, noting that the institution specifically uses the connection “proprietary” to picture the information it is not selling.

Coinbase sold a azygous analytics bundle licence to ICE for $29,000 successful August past year, followed by a bundle acquisition perchance worthy $1.36 cardinal the adjacent month.

The afloat documents of the declaration surfaced this week via a Freedom of Information Act petition by Tech Inquiry. The communicative was initially reported connected Wednesday by The Intercept.

The disclaimer connected the Coinbase website reiterates what the institution tweeted Friday, stating: “Coinbase Tracer sources its accusation from nationalist sources and does not marque usage of Coinbase idiosyncratic data.”

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