BITCOIN SEASON 2: Not Just Coinbase, Everyone’s Leaking Crypto User Data
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 17 May 2025
⏱️ 29 minutes
🧾️ Download transcript
Summary
We explore the Coinbase customer data breach, vulnerabilities in KYC systems, and the increasing risk of physical attacks against crypto holders.
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Today, Janusz joins us to dive into the recent Coinbase customer data breach where overseas support agents were bribed to steal user information. We explore the fundamental vulnerabilities in KYC systems, the rising trend of physical attacks targeting crypto holders, and sophisticated phishing operations. Yanis offers practical alternatives to centralized exchanges and discusses how to maintain privacy while navigating regulatory requirements in the crypto space.
Notes:
- Coinbase hackers demanded $20M in Bitcoin ransom
- Less than 1% of Coinbase customers affected
- Physical crypto attacks increasing since 2022
- Support agents bribed to copy customer data
- P2P alternatives avoid additional KYC exposure
- Constitutional rights may extend to anonymous payments
Timestamps:
00:00 Start
01:15 Easy targets
03:09 Coinbase breach timeline
04:15 Coinbase CEO Brian Armstrong Video
06:58 The pitfalls of KYC
15:29 Junseth scam call
17:29 Arch Network
18:31 Know the risks
22:31 Protecting yourself
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Transcript
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| 0:45.6 | That's audible.com slash Wondery UK. |
| 0:49.7 | Coinbase customer data was breached this past week. |
| 1:05.0 | In an update video from Brian Armstrong, Coinbase CEO, he says they will not respond to the extortion attempts for $20 million from the hackers. I've got Janus on Riders Room this week. |
| 1:08.0 | We're going to talk about K.YC and crypto. |
| 1:12.1 | Bitcoin Season 2 is brought to you by Arch Network, |
| 1:14.7 | the platform building bridgeless apps on Bitcoin, |
| 1:17.4 | or on Arch later on the show. |
| 1:18.6 | Let's kick it off. |
| 1:26.2 | Welcome back to Bitcoin Season 2 writer's room. |
| 1:29.3 | Colin is on leave. |
| 1:30.9 | He's actually currently on stage interviewing Eric Trump. |
| 1:33.5 | That is a true story. |
... |
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