Coinbase Notice of Account Closure

[koffea]

I dont understand why more vendors dont take steps to protect their customers from this. Dont they want repeat customers?

they also insist on using coins that are completely traceable. Again a solvable problem.

 

[wildweasel]

So i got a notice yesterday that my Coinbase account is not closed due to some violation. The only thing i used the account for was to order peptides from approved vendors. I've attached the email i received yesterday.

Anyone has a recommendation for an alternative to Coinbase?

View attachment 25421

Yes, use any other platform, kraken, cashapp, whatever, and transfer your funds into a personal wallet and trasnact from there.

this is standard crypo opsec for grey market pruchases

I dont understand why more vendors dont take steps to protect their customers from this. Dont they want repeat customers?

they also insist on using coins that are completely traceable. Again a solvable problem.

Its not the vendors fault that their customers are violating terms of use on other platforms. Vendors arent telling you to make a coinbase account and use that to pay them. Its the user's fault for sending money from platforms that violates ToC.

Just get your own wallet, people, its not difficult

This is why it is always recommended to make any payment from a wallet that is not where you actually transfer real money in from.

Holy crap this though. If you are using cypro to buy grey market stuff, dont make your purchases from a regulated platform. transfer the funds into your own wallet first.

Its like making a wire transfer to a foreign drug dealer and then wondering why the bank shuts down your account, lol

 

[koffea]

Its not the vendors fault that their customers are violating terms of use on other platforms. Vendors arent telling you to make a coinbase account and use that to pay them. Its the user's fault for sending money from platforms that violates ToC.

Just get your own wallet, people, its not difficult

Holy crap this though. If you are using cypro to buy grey market stuff, dont make your purchases from a regulated platform. transfer the funds into your own wallet first.

Its like making a wire transfer to a foreign drug dealer and then wondering why your bank shuts down your account, lol

This happens to a lot of people for a lot of reasons that have nothing to do with being illegal. Its essentially guilt by association. And AML mechanisms are anything but transparent.

Right now using a buffer wallet gives you some protection, but not much. Its pretty obvious pattern based behavior. So I would not expect this to work forever, especially if you are using the same wallet over and over again to do your grey market purchases.

But strictly speaking from a customer service POV, they know the issues that face their customers in the EU, North America, etc. They could take steps to decrease degrees of exposure to the illicit account. For example they could use a privacy centric coin, dynamic address generation, screen for incoming wallets that have been flagged, etc. Any of these would help, but virtually none of the grey market vendors do. From a brand POV, it would be advantageous for a vendor to do this. They would be protecting themselves and their customers. It would be a win-win for everyone