If @Coinbase had used KILT-based Decentralized Identifiers (DIDs) in their infrastructure - especially for internal access control and user authentication - this breach could have been significantly mitigated or even prevented.
Here’s how: 🧵
Coinbase
@coinbase
05-15
Cyber criminals bribed and recruited rogue overseas support agents to pull personal data on <1% of Coinbase MTUs. No passwords, private keys, or funds were exposed. Prime accounts are untouched. We will reimburse impacted customers. More here: http://coinbase.com/blog/protecting-our-customers-standing-up-to-extortionists…
5. Regulatory Alignment without Central Custody
Coinbase is obligated to comply with KYC/AML.
KILT enables:
• Identity verification that is regulator-compliant without Coinbase storing raw PII.
• On-demand verification with full auditability.
We’re happy to engage if @coinbase is open to exploring how KILT’s decentralized identity tech can harden infrastructure, minimize data exposure, and restore user trust.
DMs open. 🛡️
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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