CMC News

#Coinbase Reduces Account Freezing Issues by 82%

#Coinbase CEO Brian Armstrong has announced an 82% reduction in unnecessary user account restrictions after identifying it as a major operational issue.

The #crypto exchcustomerange prioritized fixing account freezing problems that had persisted longer than acceptable timeframes.

Improvements came through significant investments in machine learning models and infrastructure upgrades.

Dor Levi joined Coinbase's product team in April with the primary mandate to resolve account restriction issues.

Enhanced model precision and recall resulted in fewer unnecessary freezes for legitimate users.

Users previously reported sudden account freezes lasting several months, causing some to abandon the platform entirely. Customer confidence was also impacted by a recent data breach exposing details of over 70,000 accounts.

The exchange will continue implementing court-ordered restrictions and sanctions for legal compliance purposes.

Despite progress, Levi acknowledges the user experience still doesn't meet internal standards for cudtomer support.

Coinbase remains one of the world's largest crypto exchanges, with over 100 million users, and serves as the primary custodian for #spot $BTC #ETFs.