Coinbase Hack Reveals Very Poor Security Practices

The main problem is the way Coinbase does not secure the KYC information of their customers. It should be extremely hard to get the personal information of customers, and it seems it was very easy to get it and sell it.

Banks in particular are very good at saving credit card information, and personal identifying information, they are seldom hacked.

Clearly Coinbase did a bad job at this, and should learn from the security experts in traditional finance.

Governments demand for KYC does not improve security, in fact it makes it worse for everyone involved, especially those who give their information to centralized exchanges.

More reason for people to use Decentralized Exchanges far more than the Centralized ones like Coinbase. I urge people to consider and use alternatives like Uniswap, Bisq, Meteora, Raydium, or Thorchain, and to minimize the use of Centralized Exchanges.