Post
Topic
Board Web Wallets
Merits 2 from 2 users
Re: Blockchain.info - Are they really stealing people's BTC?
by
o_e_l_e_o
on 25/11/2021, 10:34:35 UTC
⭐ Merited by Csmiami (1) ,davemichaelson (1)
Re the user above asking about my personal bias, I think I posted above or on the related thread that I'm a lawyer. My interest is in learning how the legal system can better translate its services to the crypto universe. I enjoy crypto investing and am trying to expand my knowledge of a field which I think has potential (likelihood?) of changing the lives of most people on earth. This particular company happens to be "low-hanging fruit" for me to learn what's going on.
I'll preface this reply by saying I am most definitely not a lawyer.

In my opinion, centralized services which hold on to user's coins on their behalf have got away with far too much scammy behavior for far too long. I include web wallets such as blockchain.com in this, but also most centralized exchanges. Sure, there are plenty of users of blockchain.com web wallet who only have themselves to blame, after not writing down their seed phrase or forgetting their account details, but the number of users reporting issues where they have had coins or entire addresses disappear from their wallet, seed phrases recovering an entirely different set of addresses, transaction being sent to addresses which no longer exist, etc., are too many to ignore. Add in the fact we know that they have previously had critical vulnerabilities go unnoticed in their system as I explained above, and coupled with the fact the blockchain.com's customer support is legendarily useless and provides absolutely zero support to these users, often leading to people like us on forums such as this one trying to help these users recover their coins, then I would love to see these cowboys actually be held responsible for some of their behavior.