Coinbase Explains after Sending Erroneous Notification to Its Customers

Coinbase Nasdaq COIN
Coinbase Nasdaq COIN

Coinbase (NASDAQ: COIN), the largest cryptocurrency exchange in the United States has explained that it had erroneously sent wrong notifications to 125,000 of its customers. The notifications told customers that their security settings had change although that didn’t really happen. The crypto trading platform said that the mistake followed an internal error.

Coinbase has spent “most of the weekend working with customers to make sure we can address their questions,” company spokesperson Andrew Schmitt told CNBC. “We believe the only way to build trust with our customers is to be transparent when we mess up.”

Several customers complained about the notification last week. They believed that their account was hacked and asked Coinbase to act on it soon. Consequently, the crypto exchange giant said that it’s improving its customer service by including voice support this month for customers whose accounts were hacked by a third party. Additionally, Coinbase added that it will include a live chat on its platform later this year.