Coinbase lawsuit, a privacy disaster waiting for? Consider crypto wallets like the best wallet
Less than a week since Coinbase’s hack, crypto exchanges have appeared in the crosshairs again.
This time, it is a class action lawsuit filed by Illinois residents, claiming that Coinbase has processed its biometric data without consent.
Excerpts from the document claim that this violates Illinois’s Biometric Information Privacy Act (BIPA).
It doesn’t seem to be enough, and Coinbase seems to transfer this data to third-party vendors (such as Solaris and Jumio). Likewise, without the consent of the data subject (allegedly).
The EU’s GDPR law enforcement tracker comes to mind here. Websites and companies are fined every day for the exact thing – personal data can be collected without consent.
Which raises a question – what is a better way to store cryptocurrencies? The answer is in the non-habit crypto wallet in the best wallet.
You have the key to cryptocurrency alone, your personal data is collected very little (usually just an email address), and you can also get side benefits with the best wallet tokens.
Below, we will explain the situation with Coinbase and how crypto wallets can be more secure.
Coinbase, stop hitting yourself. The lawsuit is against you.
The lawsuit requires Coinbase to require users to provide government IDs and selfies in the registration process. So far, so good. These days (unfortunately) it is a very standard process for crypto exchanges.
Here is where the problem begins:
- Coinbase sends data to the third-party identification tool,
- This happens when nothing is notified of
- Or ask them to agree to the data processing.
If this sounds familiar, it’s because. Back in May 2023, Coinbase received the same lawsuit from another Illinois resident alleging violations of the state’s Bipa.
By February 2025, the lawsuit has not been completed – the complainant and Coinbase agree to accept arbitration (a private ruling by an independent arbitrator, not a comprehensive court trial).
At that time, Coinbase believed that when checking the “I agree to the User Agreement and Privacy Policy” box during the registration process, the user had agreed to the data processing.
This allegedly voided the complainant’s grounds for class action.
Also, the most important thing is that when checking the box, the user has unknowingly accepted it when he waived the right to join a class action.
User Agreements will never surprise you, right?
It suddenly became a bit sketchy to store new cryptocurrencies on Coinbase. Exchange Hacks also keeps threatening the security of your assets (see Bybit and 1-inch case).
Fortunately, solutions like Best Wallet solve this problem with self-customer, minimal data collection and top-level encryption.
The best wallets won’t treat you like data treasures
In a Coinbase world, you need the best wallet, one of the best anonymous, non-monitoring crypto wallets available today. With the best wallet you can:
- Keep your sensitive information private
- Control your own private key
- Buy, sell and exchange encryption on five major blockchains
- Share tokens in the industry’s highest APY (if you hold the best wallet tokens, please improve further)
- Invest in some of the best pre-sales directly in the Wallet app (the first in the industry)
- Join a growing ecosystem and plans to support over 60 chains, launch the best FIAT cards, as well as NFT gallery, derivatives trading and marketplace Intel Analytics
Some of these features are only for $Best Holders, which is why investing in the Best Wallet Token Presale is the best way to get started with this crypto wallet.
Purchasing will also allow you to reduce transaction fees, higher points rewards, community governance, and get some of the best meme coins early on.
Handle security with Fireblocks MPC, a cutting-edge cloud backup solution for multi-chain wallets, such as the best wallet.
The pre-sale has raised over $12.5 million, and the token is currently priced at $0.025,055 – you won’t be able to get a cheaper price. In less than 12 hours, prices will rise again, so it’s time to buy.
If you are best suited for 116% APY, another layer of reward awaits you (this will decrease as more people are staked).
A simple calculation shows that now buying the best price of $11,973 for $300, an average of 50% of the APY will reach 17,959 tokens in a year (or $450 at the current token price).
However, our best wallet price forecast also indicates a price of $0.62 by the end of 2026. Therefore, an investment of $300 can turn into $11,140, a 37-fold increase. If the price estimate is true, it is a sorted payment.
Summary: coinbase nay, encrypted wallet from custody
Coinbase’s second consecutive fucking left a bad smell in his mouth. Unfortunately, as communication pursues the greatest profit, data privacy and asset security are placed on the rear burner.
The lesson is that the only person you can trust is yourself. This is exactly the self-monitoring wallet, such as the best ones, that allow you to control data and funds and reward you for that.
Don’t forget to do your research yourself before investing in crypto and pre-sales. The market is volatile and is prone to fluctuation immediately. Invest only on the losses you can afford!
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