Cybersecurity
Coinbase Cuts Ties With Hacking Team Following Spyware Backlash
- CEO Armstrong says they’ll “transition out of Coinbase”
- Hacking Team allegedly sold spyware to oppressive regimes
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Coinbase Inc., one of the world’s largest cryptocurrency exchanges, is letting go of staff after the backlash it faced for purchasing a company allegedly linked to the sale of spyware to oppressive regimes.
Citing a gap in the diligence process, co-founder Brian Armstrong wrote in a blog post late Monday that “we did not properly evaluate everything from the perspective of our mission and values as a crypto company,” referring to their purchase of Neutrino, an Italian blockchain analytics firm.