Less than a week since Coinbase’s hack, the crypto exchange is in the crosshairs again.
An excerpt from the filing alleges that this breaches Illinois’ Biometric Information Privacy Act (BIPA).
As if that wasn’t enough, Coinbase seems to have transmitted this data to third-party vendors (like Solaris and Jumio). Again, without the data subjects’ consent (allegedly).
The lawsuit claims Coinbase asked users for a government ID and a selfie during the sign-up procedure. So far, so good. It’s a pretty standard process for a crypto exchange these days (unfortunately).
Here’s where the problems begin:
This allegedly voided the complainant’s justifications for the class action lawsuit.
Plus, the most important bit—another term the user had unwittingly accepted when checking that box is waiving his right to join a class-action lawsuit.
User Agreements never cease to surprise, right?
Fortunately, solutions like Best Wallet solve this problem through self-custody, minimal data collection, and top-of-the-line encryption.
In a world of Coinbases, you need the Best Wallet, one of the best anonymous, non-custodial crypto wallets available today. With Best Wallet, you can:
Some of these features are only available to $BEST holders, which is why investing in the Best Wallet Token presale is the best way to get started with this crypto wallet.
Another layer of rewards awaits you if you stake $BEST for a 116% APY (this will decrease as more people stake).
A simple calculation shows that buying 11,973 $BEST for $300 now and staking for an average 50% APY would lead to 17,959 tokens in a year (or $450 at the current token price).
Coinbase’s second screw-up in a row leaves a bad taste in the mouth. It’s sad to see how often data privacy and asset security are put on the back burner as exchanges pursue maximum profit.
Don’t forget to do your own research before investing in crypto and presales. The market is volatile and prone to immediate fluctuations. Only invest what you can afford to lose!
