Post
Topic
Board Beginners & Help
Re: What could make an exchange to seize users assets
by
John Abraham
on 11/03/2023, 15:41:34 UTC
6.10. Suspension, Termination, and Cancellation. Coinbase may suspend, restrict, or terminate your access to any or all of the Coinbase Services, and/or deactivate or cancel your Coinbase Account(s), with immediate effect for any reason at its sole discretion and is under no obligation to disclose the details of its decision to take such action with you. You acknowledge that Coinbase's decision to take certain actions, including limiting access to, suspending, or closing your account for any reason in our sole discretion, may be based on confidential criteria that are essential to Coinbase's risk management and security protocols. You agree that Coinbase is under no obligation to disclose the details of its risk management and security procedures to you.

Yeah, In my previous post, I also suggested OP to read this;
[3] Coinbase User Agreement Read from 6.1 to 6.3 SUSPENSION, TERMINATION, AND CANCELLATION.

At any time, for any reason, and they won't even tell you why, let alone let you appeal against it.

Would you use such a service If you knew they have the right to do such things with your account and funds? I don't understand why OP respects Coinbase so much, but this is the sickest user agreement I have ever read. To be honest, I didn't read their user agreement before today. But I wanted to dig into the reason, and I was shocked.

I believe over 95% of Coinbase users don't know about this. Almost no one reads the user agreement when they sign up. If anyone does, I don't think they will end up signing up on Coinbase after they find what coinbase can do. Almost nobody knows what's hiding in their user agreement page. I Believe it needs a particular thread with awareness, and people should know about this.