One of the things unique about cryptocurrency operations is anonymity. As a effect, investors, traders and participants enjoy transacting without, fear of exposure to third parties and government agencies.
That’s why even scammers or cyber criminals utilize crypto to perpetrate cash laundering activities and other financial crimes. Actually, Even though exploiting the mechanisms of crypto operations is unacceptable, anonymity is a capability to appreciate.
As you may know, But all that might alter formillionCoinbase users, which currently are over 89 . The digital assets exchange currently faces backlashes from aggrieved crypto users more than ever on its platform. A recent report reveals that its insights program, Tracer, will disclose visitor details to the US Immigration and Customs Enforcement Agency (ICE).
Many Coinbase users took to Twitter to air their grievances on the issues. Some have stated as a matter of fact that they didn’t sign up for their identities to be revealed to the US Homeland Security. Other users maintain that Coinbase will pay them for selling out their details without informing them.
Coinbase signs a three-year contract with ICE
The crypto firm signed a contract with the US government through the ICE arm of Homeland.Security The ICE focuses on protecting the US from illegal immigration and as a matter of fact cross-border crime.
According to the overview, ICE will accessthetransaction history and geotracking information. By using Coinbase Tracer, the agencyidentify from another perspective can the real-world owners of crypto addresses. This contract between Coinbase Tracer and the ICE will supposedly last for three years and initiate at a sum of $455,000 but is expected to extend $137M by 2024.
Tech Inquiry, a nonprofit organization known for tracking relationships between nonprofits, companies, and governments, acquired the contract. Indeed, The firm usually as a matter of fact tracks collaborations related to weapons, surveillance, corruption, inner workings, contracts, etc.
Coinbase denies selling users’ data to ICE
The summary on the deal emerged on June 30. When Coinbaseawas asked to make statements about the controversy, its spokesperson Natasha LaBranche simply provided hyperlink to the official web page. Actually, The links state that Tracer doesn’t apply Coinbase end-user details but gathers its information via public sources.
Speedy-forward to July 1, Coinbase released a statement clarifying the deal between the corporation and ICE. In additionofthe firm has denied the accusation , selling users’ data to Homeland Security.
According to the firm, the access to its . resource is mainly for financial crimes investigationsTracer Itis not selling proprietary customer facts. Coinbase reiterated that it prioritizes users’ protected and encrypted access to its platform above everything else.
Indeed, Regarding, Tracer Tools the firm stated that they were developed to meet government requirements more than ever . The tools gather data to investigate financial crimes such as funds laundering and terrorist financing.
Coinbase also clarified that the information the ICE gets from the tools is from public and not its users’ facts assourcesfeared.
How can a as it turns out end-user protect their Geo-location facts?
Even though Coinbase has assured users that their details is guarded, there are other ways your locations can be tracked online. you canButprevent all those unwanted trackingthe, by doing Actually following things as it turns out :
- Using a Virtual Private Network (VPN) to access the web. A reliable service masks your location by encrypting your data and passing your traffic through remote servers.
- Turning off or clearing cookies after browsing
- Using anti-tracking software to block tracking websites
- Sharing limited information on social media networks
- Monitoring DNS leakages and Managing plugins
- Learn more about security protocols
