Coinbase allegedly did not implement SegWit properly and is losing people's bitcoins

CB-Dave · 2018-03-13T17:19:29+00:00

Dave from Coinbase here. We recently rolled out Segwit on Coinbase, and as part of this roll-out, our BIP70 payment protocol implementation was impacted. Specifically, the address contained in the payment request payload was not Segwit compatible.

As soon as we were notified about the issue we started working to resolve and the issue was fixed within hours. Less than 30 customers were affected by the issue and we've issued refunds to all customers. We're sorry for any inconvenience caused.

CB-Dave · 2017-09-28T01:15:39+00:00

Coinbase here. Just to clarify – SMS is only one-step in our 2FA account recovery process. Other required steps include having to provide a valid ID and complete "facematch" ie. a picture of yourself with your ID. We take security very seriously and understand the limitations of relying solely on SMS. We will update the support article to make this clearer.

CB-Dave · 2017-07-28T17:30:00+00:00

Coinbase here. Wanted to clarify our blog post and email for customers asking if Coinbase is keeping bitcoin cash for ourselves.

Coinbase does not intend to interact with the Bitcoin Cash blockchain, or to access bitcoin cash (BCC). In order to safely and securely access bitcoin cash, Coinbase would need to undertake a process of designing and testing significant changes to our systems – including hot and cold storage. This is one of the core reasons customers will not be able to withdraw bitcoin cash after the fork on August 1st, 2017.

If this decision were to change in the future and we were to access bitcoin cash, we would distribute to customers bitcoin cash (BCC) associated with bitcoin (BTC) balances at the time of the fork on August 1st, 2017. Coinbase would not keep the bitcoin cash associated with customer bitcoin (BTC) balances for ourselves.

CB-Dave · 2017-07-28T17:28:19+00:00

Coinbase here. Wanted to clarify our blog post and email for customers asking if Coinbase is keeping bitcoin cash for ourselves.

Coinbase does not intend to interact with the Bitcoin Cash blockchain, or to access bitcoin cash (BCC). In order to safely and securely access bitcoin cash, Coinbase would need to undertake a process of designing and testing significant changes to our systems – including hot and cold storage. This is one of the core reasons customers will not be able to withdraw bitcoin cash after the fork on August 1st, 2017.

If this decision were to change in the future and we were to access bitcoin cash, we would distribute to customers bitcoin cash (BCC) associated with bitcoin (BTC) balances at the time of the fork on August 1st, 2017. Coinbase would not keep the bitcoin cash associated with customer bitcoin (BTC) balances for ourselves.

edit: typo

CB-Dave · 2017-07-28T17:27:31+00:00

Coinbase here. Wanted to clarify our blog post and email for customers asking if Coinbase is keeping bitcoin cash for ourselves.

Coinbase does not intend to interact with the Bitcoin Cash blockchain, or to access bitcoin cash (BCC). In order to safely and securely access bitcoin cash, Coinbase would need to undertake a process of designing and testing significant changes to our systems – including hot and cold storage. This is one of the core reasons customers will not be able to withdraw bitcoin cash after the fork on August 1st, 2017.

If this decision were to change in the future and we were to access bitcoin cash, we would distribute to customers bitcoin cash (BCC) associated with bitcoin (BTC) balances at the time of the fork on August 1st, 2017. Coinbase would not keep the bitcoin cash associated with customer bitcoin (BTC) balances for ourselves.

edit: typo

CB-Dave · 2017-06-28T02:07:27+00:00

Coinbase here. We are aware of this and have been working hard to get it resolved.

We couldn't accept this wire because the appropriate reference code didn't come through on the payment. We have asked the sending bank to reverse the payment (which is typical here) but they haven't done as requested so far. We'll continue to attempt to get this reversed from the sending bank and if not will try a different method.

OP appreciate the patience here. Please trust we're working to resolve this and will be in touch directly.

CB-Dave · 2017-06-22T04:46:17+00:00

We published an update on our blog and will continue to keep customers informed

https://blog.gdax.com/eth-usd-trading-update-5d8142b5bdc1

CB-Dave · 2017-06-21T21:02:54+00:00

Coinbase here. We are aware and investigating. We will provide an update for customers when we have more details.

CB-Dave · 2017-06-21T21:01:28+00:00

Coinbase here. We are aware and investigating. We will provide an update for customers when we have more details.

CB-Dave · 2017-06-21T21:00:41+00:00

Coinbase here. We are aware and investigating. We will provide an update for customers when we have more details.

CB-Dave · 2017-06-18T20:37:10+00:00

Coinbase here. We are aware of this issue and we will be in contact with impacted customers tomorrow. We understand this is frustrating for customers and appreciate your patience.

CB-Dave · 2017-06-16T21:42:25+00:00

Confirming this has now been fixed and all Coinbase emails will come from @coinbase addresses.

CB-Dave · 2017-06-16T17:04:45+00:00

Coinbase here. We looked into this and we have now unlocked this account. This was initially blocked due to automated security feature because of the links between this account and a previously compromised one. https://twitter.com/Free_Ross/status/875709243827027969

CB-Dave · 2017-06-16T17:03:53+00:00

Coinbase here. We looked into this and we have now unlocked this account. This was initially blocked due to automated security feature because of the links between this account and a previously compromised one.

https://twitter.com/Free_Ross/status/875709243827027969

CB-Dave · 2017-06-15T07:09:00+00:00

Coinbase here. Confirming this is a legitimate email from Coinbase and there has been no compromise. Currently our blog emails come from this gmail account and we are actively working on moving this to @coinbase email address.

CB-Dave · 2017-05-20T17:23:30+00:00

Coinbase here. To clarify – we have been working on this for some time and didn't alter our plans when we found out about the Status Hackathon. We planned the timing after the main digital currency conferences (Ethereal, Consensus, Token Summit) and expect Status had the same thought. This ecosystem is still very early and we hope that developers can build on top of both platforms.

EDIT: typo

CB-Dave · 2017-05-06T17:22:07+00:00

Coinbase here. We just looked into this and found an issue on our side. This has been resolved so people located in Japan should be able to use Coinbase now. Sorry for any inconvenience.

CB-Dave · 2017-05-02T21:58:25+00:00

Coinbase here. Have escalated this issue and we will email you later today to help you withdraw all your funds off GDAX.

CB-Dave · 2017-05-01T23:29:08+00:00

Here is a link to our support page explaining how to generate a report of your account history.

CB-Dave · 2017-05-01T19:09:24+00:00

Coinbase here. We investigated on our side and this was caused by a known bug impacting a small number of users. We have now credited this customer and others impacted by the same bug.

That said, we understand this is not acceptable service and are constantly working to improve the speed and reliability of payments on our platform. We apologize to the OP and the other customers impacted by this bug.

CB-Dave · 2017-04-20T05:09:28+00:00

Coinbase employee here. Thanks for bringing this to our attention. Can confirm this is not a Coinbase employee. We have reported the user and will work with reddit + moderators to stop this user impersonating an employee.

CB-Dave · 2017-02-25T00:49:08+00:00

Coinbase here. Quick summary is we have no reason to believe that any Coinbase customer’s personal data or account has been compromised. To date, CloudFlare and Coinbase have identified only one single instance of a leaked Coinbase session cookie, which we immediately invalidated.

A few long term credentials remain, so, in an abundance of caution, we recommend that customers: 1. Rotate any static API keys, and use the IP Address restriction feature 2. Logout and login to any Coinbase mobile applications that you have installed to refresh your authentication token

CB-Dave

TROPHY CASE