Coinbase Reduces User Account Freezes by 82% Amid Ongoing Complaints

Coinbase CEO Brian Armstrong addressed the issue of account freezing on the platform, acknowledging it as a significant concern for users. He reported that the company has reduced unnecessary account restrictions by 82% due to upgrades in machine learning models and infrastructure.

Improvements led to better security systems and fewer legitimate accounts flagged.
Despite advancements, Coinbase will still comply with court orders affecting account restrictions.

Customer frustrations remain, with reports of users unable to access funds for extended periods, some lasting over two years. Complaints highlight difficulties in reaching customer service for resolution.

This situation underscores risks related to custodial wallets, where third parties control users' private keys. The principle of "not your keys, not your crypto" is particularly relevant. Non-custodial wallets are suggested as a solution for maintaining control over digital assets.