ZachXBT Criticizes Coinbase After Account Lock
ZachXBT slams Coinbase for locking his account twice and not disclosing a customer data breach.
- ZachXBT reports two Coinbase account locks in one month
- Alleges Coinbase didn’t fully disclose a past data breach
- Warns others against using the platform despite good yields
Crypto sleuth ZachXBT has voiced serious concerns about Coinbase after his account was locked for the second time within a month. The most recent lock happened today, and according to ZachXBT, it came without explanation. These restrictions have raised eyebrows among the crypto community, especially coming from someone well-known for exposing bad actors in the space.
Being locked out of a major exchange like Coinbase—especially more than once in such a short span—raises concerns about how the platform manages user access and support. While account security is vital, users expect transparency and timely resolutions when problems arise.
Allegations of a Hidden Data Breach
What makes the situation even more troubling is ZachXBT’s claim that Coinbase failed to fully disclose a previous customer data breach. He suggests that the breach led to users, including possibly himself, getting their funds stolen. While no official statement has confirmed these claims, the suggestion adds a layer of distrust to Coinbase’s reputation.
For a regulated exchange operating in the U.S., the lack of transparency around security issues can damage user trust. If true, failing to inform customers about a potential risk to their data could have long-term consequences for the company.
“I Wouldn’t Recommend Coinbase to Anyone”
Despite Coinbase offering competitive yields on stablecoins, ZachXBT didn’t hold back his opinion. He bluntly stated: “I wouldn’t recommend Coinbase to anyone.” That kind of warning, coming from a well-respected investigator in the crypto world, could influence public perception.
For everyday users, this incident serves as a reminder to not rely solely on centralized exchanges. It also reignites the discussion about self-custody and the importance of transparency from platforms that hold user funds.
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