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Cryptocurrency Exchange Coinbase is facing a growing advertising nightmare after the appearance of the CEO of a company that took over data from private users sold to governments.
Coinbase: The neutrino 'will help prevent theft'
Announced on February 19th, Coinbase is now the owner of the Italian chain monitoring start-up, Neutrino, which acquired the company for an undisclosed amount.
"By badyzing the data on public blockchains, Neutrino will help prevent the theft of funds from people's accounts, investigate ransomware attacks and identify bad actors," said Varun Srinivasan, director of the program. engineering, in an accompanying article.
It will also help us to offer more crypto currency and features to more people, while ensuring compliance with local laws and regulations.
Neutrino staff will now move to the London office in Coinbase and continue to operate as before without dismissal.
The CEO of Neutrino worked for the "first spyware vendors of the police"
As soon as Coinbase revealed that the takeover had taken place, the cryptocurrency industry had immediately sounded the alarm on Neutrino's roots.
Giancarlo Russo, his CEO, previously held the position of COO of HackingTeam, a Milanese company with a scandalous reputation. described by Edge "The world's leading commercial hacking software vendors", spyware from HackingTeam allows customers to engage in a wide range of surveillance activities.
These include the secret collection of e-mails, SMS messages, call history and address book data, as well as logging keystrokes, wiretapping and logging. Skype calls and even data on the use of cryptocurrency wallet.
A other article in the British newspaper the Telegraph In 2015, company founder David Vincenzetti confirmed that such capabilities are being sold to governments and other entities in 20 countries.
Congratulations to Coinbase for the acquisition of the start-up Neutrino chain badysis!
FYI, the CEO, Giancarlo Russo, was the former COO of HackingTeam (https://t.co/qyQ6mLU8XE), who had sold "offensive intrusion and surveillance capabilities to governments, law enforcement agencies, law and businesses ". pic.twitter.com/VVza5AjIYa
– Arjun Balaji (@arjunblj) February 19, 2019
Social commentators noted the connection between HackingTeam and the acquisition of Coinbase, while others seemed to quickly understand.
"[G]oodbye (Coinbase) … does not want my data, identity and encrypted property data to be sent to every government agency on a silver platter, "adds CoinShares CSO Meltdem Demirors. reply.
As Bitcoinist reported, Coinbase felt the pressure elsewhere this month. In another dubious security move, the exchange now allows users to store private keys in portfolios in the cloud.
What do you think of Coinbase making the acquisition of Neutrino? Let us know in the comments below!
Images courtesy of Shutterstock
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