Coinbase Settles with NYDFS for $100 Millions

[Yugocean]

Coinbase will pay $50 million fine for allowing people use its platform without checking their background, and another $50 million to settle issues.

 

[Magnus2022]

The fine is quite deserving because coinbase actually helped scammers to scam people and go scot free. This should be a deterrent to other exchange that aid criminals just because of their personal gains.

 

[Yugocean]

The fine is quite deserving because coinbase actually helped scammers to scam people and go scot free. This should be a deterrent to other exchange that aid criminals just because of their personal gains.

I am not sure how this is going to help victims? They are not going to get justice, its more likely business+burocracy nexus of paying and shutting.

 

[Niyi Briggs]

Someone told me that trust wallet is better than coinbase. And this has confirmed that. How can they be leaving loopholes consciously or unconsciously for scammers to access the site.