Coinbase, the largest US-based exchange, has faced criticism from the crypto community after reports surfaced about its restriction of users accessing accounts through Virtual Private Networks (VPNs).
On Dec. 2, Scott Shapiro, a product designer at Coinbase, warned users to avoid using VPNs when accessing their accounts. He explained that Coinbase’s risk model treats VPN usage as a red flag, typically associated with malicious activity, even if the user is legitimate.
He stated:
“Attackers always use VPNs, so our risk models take that as a negative sign even if you’re legitimately using your own account.”
A VPN is an online tool that encrypts data and hides IP addresses to enhance privacy and security. By creating a secure connection between a device and a remote server, VPNs make data unreadable to anyone lacking the encryption key.
Reports show that Americans’ VPN use has surged in popularity, with 95% of adults familiar with the technology and 46% actively using VPNs. This
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