Coinbase:Never Share “Personally Identifiable” Customer Data

It was revealed that Neutrino executives were involved in malware development and selling customer information to third parties. Steps have been taken to clarify the statements made following its controversial acquisition of this group.

Let’s see what hacking team is? It is a company that has already been talked about on multiple occasions in the media or within institutions, and for good reason: the group is involved in selling solutions RCS (Remote Control System) to nations that are at least restrictive in terms of human rights; allowing de facto surveillance and espionage of opponents to the notable benefit of some of the most authoritarian regimes on the planet.

Remember that Coinbase made the official announcement in a blog note on February 19: the company has just acquired the startup Neutrino, specialized in the booming sector of monitoring and monitoring blockchain flows of the new crypto-economy. While the initial announcement was full of the usual emphasis in any press release, the case is more complicated than it seems, and for good reason: Neutrino’s top executives have all gone through management of Hacking Team, Italian group of “cybersurveillance”.

In an interview Christine Sandler, Marketing Manager at Coinbase, said:

“We are aware that the co-founders of Neutrino previously worked for Hacking Team, which we examined as part of our security, technical and hiring audit process. It was important for us to migrate away from our current suppliers. They sold customer data to outside sources and it was imperative for us to control that data and to have patented technology that we could leverage to protect the data and protect our customers. ”

Yet a spokesman told CoinDesk Tuesday that the stock market “never shared personally identifiable information from our customers with third-party blockchain providers.”

It should be known that the statement protecting the company’s data was mentioned. However, this data had already been sold to “outside sources” and it is still unclear what kind of data was stolen and when.

For exemple, Elliptic, the rival analytics company said in a blog post that it was working with Coinbase and did not provide “any personally identifiable information about their users”. She has provided other exchanges and customers with addresses and transactions associated with financial crimes, according to this article.

In the other side, on its website, Neutrino states:

“We believe that the fight against crime should be easy. We provide efficient and easy-to-use offensive technology to global law enforcement and intelligence communities. ”

However, the impacts of this story are not really pleasant for coinbase like the case of Hernandez,  Hernández is one of five former users of Coinbase who told CoinDesk that he had closed his account after the acquisition of Neutrino.

Source: coindesk      Image: pixabay

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