A support contractor in India photographed 200 customer records per day and sold them for $200 each. Names, home addresses, Social Security numbers, bank details, government IDs, account balances. All of it.

That's how the Coinbase breach happened. Not a sophisticated hack. Not a zero-day exploit. An employee with a phone camera and a buyer.

69,461 people are now on a list.

Criminals know exactly who owns bitcoin, how much they have, and where they live. One victim has already lost over $2 million. Others lost retirement funds and down payments, not because their accounts were hacked, but because the stolen data made social engineering attacks nearly impossible to spot.

KYC doesn't just create privacy risk. It creates physical security risk.

When you hand over your ID, your address, your financial information to buy bitcoin, you're trusting that every single person with access to that data: contractors, support agents, database admins will protect it forever.

That's not how the world works.....

Data leaks. People get bribed. Systems get breached.

The Coinbase breach wasn't detected for six months!!

Six months of customer data being photographed and sold before anyone noticed. And Coinbase is the biggest, most regulated exchange in the US.

What did we get from Mr. Armstrong? "we're sorry we will try to do better"

Well Mr. Armstrong, stuff your sorries in a sack.

None of this happens with peer-to-peer trading.

When you buy bitcoin from someone you know or someone connected through your mutual friends, there's no central database storing your identity. No contractor in another country with access to your home address.

No honeypot waiting to be exploited.

The person you trade with knows you bought bitcoin. That's it. And that's how it was designed to work.

We've spent fifteen years rebuilding the surveillance infrastructure that bitcoin was supposed to replace. We added KYC because regulators demanded it.

We centralized because it was convenient.

And now 70,000 people are dealing with the consequences.

The Coinbase breach isn't an anomaly. It's the inevitable result of a system that requires you to hand over your identity to participate.

The only question is which exchange is next....

If you're still using KYC exchanges, ask yourself: is the convenience worth being on that list?