Odaily News Dor, the head of product at Coinbase, posted on the X platform that a fraud case was handled this week. After choosing to suspend the transaction and requesting more information about the transaction from the user, the account owner could not be contacted and decided to reject the transaction and restrict the account to prevent the account from being stolen. The purpose is to protect users from unauthorized account access and withdrawals, but it caused a legitimate user to feel frustrated (the user must go through the account recovery process). Coinbase is balancing this situation and has reduced account restrictions by more than 80%. In the past few weeks, the fraud model optimization has been improved by about 20%, and the infrastructure has been upgraded to continuously retrain multiple models.
Coinbase CEO Brain Armstrong responded that it is crucial for the platform to find the right balance between reducing account restrictions and ensuring customer security.