Coinbase says it’s tackling frozen accounts in ‘major issue’
Improvements in Coinbase’s machine learning models and infrastructure helped to cut the number of unnecessary account restrictions.
Coinbase CEO Brian Armstrong said the crypto exchange has reduced unnecessary user account freezing by 82%, after identifying it as a “major issue” for the exchange.
In a June 6 X post, Armstrong acknowledged that account freezing has been a problem “for longer than is acceptable,” and that it has become a top priority for his firm to improve.
“The issue has been reduced by 82% so far, with more improvements coming. We’ll keep you updated as further improvements roll out,” Armstrong said, before asking all customers with frozen accounts to contact Coinbase Support.