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I have recordings proving Coinbase knew about breach months before disclosure

(jonathanclark.com)
685 points jclarkcom | 1 comments | 16 Nov 25 20:18 UTC | HN request time: 0s | source
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chaps ◴[16 Nov 25 20:59 UTC] No.45948347[source]▶
Once did some programming/networking work for a company that did the networking of a office sharing building that Coinbase was running out of. Early in my work there I noticed that the company had its admin passwords written on a whiteboard -- visible from the hallway because they had glass for walls. So I sent them an email to ask that they remove it (I billed them for it).

Their fix was to put a piece of paper over the passwords.

What a time.

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650REDHAIR ◴[16 Nov 25 21:08 UTC] No.45948413[source]▶
This doesn’t surprise me at all.

Bitcoin, and really fintech as a whole, are beyond reckless.

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danielhlockard ◴[16 Nov 25 21:38 UTC] No.45948644[source]▶
You say that but I work in fintech (granted, one of the larger more corporate ones, after an acquisition) and we are heavily regulated, and audited.
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bdangubic ◴[17 Nov 25 02:18 UTC] No.45950314[source]▶
funniest thing I read this year on HN - well played mate, well played!!!
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aiisjustanif ◴[17 Nov 25 13:38 UTC] No.45953440[source]▶
They could work for the Plaid or Stripe which are pretty known for taking proactive security very serious.

https://security.plaid.com/

https://docs.stripe.com/security

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bdangubic ◴[17 Nov 25 13:51 UTC] No.45953529[source]▶
I am 1,000,000% sure that many fintech companies are taking security very, very seriously (I am Stripe customer myself). But I don't think that has anything to do with statement "we are heavily regulated, and audited" - that is too funny.
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fragmede ◴[17 Nov 25 16:38 UTC] No.45955243[source]▶
In the wake of every scandal in finance is a wave of regulations. Finance is one of the most heavily regulated industries the is. That smart people keep finding new areas that haven't yet been regulated doesn't mean that the existing areas agent heavily regulated and audited.

If you give me $5, and then I pass it on to Bob for you, how many licenses and how much paper work do you think I should need to do that if I did that as a business? If you give me some money and I am a business, how much paperwork should that incur?

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bdangubic ◴[17 Nov 25 19:40 UTC] No.45957347{5}[source]▶
give me some examples of this “regulation” actually doing serious “regulating”? on paper, there may be 1,000’s of statutes and whatnots doing all sorts of regulations - in practice though… not to mention this industry is probably the most “self-regulated” when you actually dig in than most others…
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1. fragmede ◴[19 Nov 25 10:03 UTC] No.45977773{6}[source]▶
Here's the DEA with a specific money laundering case: https://www.dea.gov/press-releases/2025/05/29/two-money-cour... but there are many more of your search for money laundering.