Quote from: Oshosondy on Today at 10:11:25 AM

Quote from: Vincom on Today at 09:51:16 AM

I still remember Coinbase didn't want to share their Proof of Reserves because they really value all the info about their customers, like how much stuff they have on Coinbase [6]. Now that some of that info has been leaked, it feels like anything could happen, even stuff Coinbase might not expect or be able to handle.

Proof of reserve does not have anything to do with users privacy, what that has to do with it is accepting KYC and the second is sharing the KYC information with third parties and also data breaches.

Quote from: Vincom on Today at 09:51:16 AM

This makes me a bit worried about a possible black swan event down the road if Coinbase gets hit with a big attack and over 2.5 million BTC get stolen from their control. Coinbase is so big now that if it went under, it could be even worse than when Mt Gox collapsed, and they only held around 850K BTC [7].

Coinbase likely have more protection for users coins that data but there is possibility of hack on any crypto exchange at anytime. It is very important not to leave your coins on an exchange.

Quote from: Vincom on Today at 09:51:16 AM

Could Coinbase's collapse drag the entire crypto market into a new crisis?

The market will fall and survives it. Even the market survived Bybit hack as if nothing happened because other exchanges supported as they do not want the crypto market suffer.

With the recent hack of personal information in Coinbase we saw ye another reminder of why mixing coins should be a basic right to everyone and jurisdictions ruling against mixing coins are putting people in danger. If you are able to mix your coins you are at least able to detach yourself from the records that tie your personal information to your addresses. It is essential for privacy to not have your public bitcoin addresses tied to your full name and physical address and mixing solves this, so we should continue to fight a pro-mixing stance including this forum which capitulated by removing signature campaigns for mixing services. Lack of privacy on Bitcoin could put your life in danger so be careful with your utxos and avoid KYC whenever possible. As far as the 2.5M BTC on Coinbase, of course it is always a risk whenever there are big concentration of BTC in a single point, but that is a risk with any asset that is attractive since some parties will accumulate a lot, but the big immediate risk is that your data gets leaked, price dips are temporal, but once your information is out there with your public addresses you become a target, so avoid that by not using KYC as much as possible.