Michael Arrington Criticizes Coinbase Data Leak
Michael Arrington, co-founder of Arrington Capital, a Web3 venture capital company that has invested in over 200 projects since 2017, has severely criticized the recent data leak involving Coinbase’s customers.
Arrington, also a Coinbase investor, stated that the human cost of this mistake will be much higher than the $400 million said to be reimbursed to users who were social engineered and lost their funds. “This hack, which includes home addresses and account balances, will lead to people dying,” he asserted, calling out Coinbase’s poor customer support choices amidst the recent wave of crypto kidnappings. “The consequences to companies who do not adequately protect their customer information should include, without limitation, prison time for executives,” Arrington concluded.
