Alex Kroeger
@alex_kroeger
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creator of @birdsofsf, SF bay swimmer
San Francisco, CA
Joined June 2009
been gunning for 1500 and just hit it. who’s trying to play 👀
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It's saddening to me to see this is the level of conduct from the supposedly best actor in crypto. As a customer, I'm disappointed to say the least. I would like to see a more thorough report on the incident from Coinbase.
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Either @coinbase didn't know about it until May (?!?!) or sat on the information until blackmailed. Either explanation is damning in my eyes.
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2. Why didn't @coinbase notify customers sooner? The initial blog post didn't indicate when the breach occurred, but according to a filing with the Maine attorney general, the breach happened in December 2024?!?!.
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For most support activities I can't imagine home address is necessary. Given the sensitivity of this info, especially in crypto where people have been *tortured* for access to funds, having this information so accessible seems mind boggling to me.
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1. Why did support agents have access to home addresses?. I can imagine this would be useful in some narrow cases, for instance perhaps during account recovery to verify that a user knows the address on file.
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A few weeks ago I was notified about being in the @coinbase data breach. I'm still upset with them and don't think Coinbase received nearly enough backlash over it. A 🧵.
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from @coinbase 8-K SEC filing regarding the data leak:. “the Company has preliminarily estimated expenses to be within the range of approximately $180 million to $400 million relating to remediation costs and voluntary customer reimbursements relating to this Incident”.
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It would be better to address it sooner rather than later. A new encryption scheme + UTXO recycling for vulnerable UTXOs would fix it.
quantum is a bigger threat than people realize. and the options to fix it for bitcoin specifically are worse than people realize.
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RT @jerallaire: Today, Circle's R&D team released a new Refund Protocol for stablecoin payments. This builds on our earlier open source re….
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Smart contracts can thus help as add dispute resolution while still placing reasonable restrictions on the party that mediates the disputes. If you're interested in Refund Protocol, check out the blog for more detail!.
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We propose a smart contract that acts as an escrow with a limited arbiter. The arbiter can approve refunds on particular payments but cannot send the funds out of the contract to arbitrary addresses or prevent the funds from being claimed by the recipient indefinitely.
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A simple way to handle dispute resolution would be to place an arbiter between buyer and seller that custodies the funds in escrow, giving that arbiter full control over the funds until released to the seller. Public programmable blockchains let us take a more nuanced approach.
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The ability to challenge payments can give buyers greater confidence, especially in ecommerce where the buyer may not have a direct relationship with a seller. I think we've all had times where what we ordered online isn't exactly what showed up.
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Latest from Circle Research 👇. Stablecoin payments today lack an important component of modern payment systems: dispute resolution. 🧵.
Introducing Refund Protocol from Circle Research. Refund Protocol brings onchain dispute resolution and refunds to USDC payments without requiring custody or trust in a centralized party. ↳ Transparent, programmable escrow.↳ Disputes mediated by a non-custodial arbiter.↳
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RT @gordonliao: 👀 On-chain transfers can now attach messages and contexts --- Awesome demo of Recibo project from @alex_kroeger and Mira Be….
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