Coinbase Lawsuit, a Privacy Disaster Waiting to Happen? Why Self-Custody Crypto Wallets Like Best Wallet are Safer
BitcoinistWednesday, May 21, 2025 at 10:59:21 AM
** Coinbase is facing fresh legal trouble after Illinois residents slapped the crypto exchange with a class-action lawsuit. The plaintiffs claim Coinbase collected and processed their biometric data—like fingerprints or facial scans—without proper consent, potentially violating Illinois' strict privacy law (BIPA). This comes right on the heels of a recent hack, adding fuel to concerns about centralized platforms' vulnerabilities. The article suggests self-custody wallets (like Best Wallet) might be a safer bet for users who want full control over their crypto and personal data.
What This Means: ** If you're into crypto, this isn't just another lawsuit—it's a wake-up call about privacy risks on big exchanges. Illinois' BIPA is no joke (it’s cost companies like Meta and Google millions), and if Coinbase loses, it could force tighter rules on how exchanges handle user data. Plus, the timing—right after a hack—highlights why some folks prefer self-custody: fewer middlemen, fewer leaks. Whether you're hodling or trading, this case could shape how much trust we put in centralized platforms.
— Curated via WP Now’s AI editorial system
