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Dogecoin developer flags privacy issues in Coinbase Wallet and Base, advising users to adhere to tax laws to avoid surveillance and potential legal issues.
Mishaboar, a prominent member and developer in the Dogecoin community, has raised concerns about the privacy of Coinbase Wallet and the entire exchange’s ecosystem. Despite the popularity of Coinbase Wallet, especially after its recent optimization for DeFi use, Mishaboar believes that the risks associated with this self-custodial wallet are generally understated.
According to Mishaboar, the privacy concerns associated with Coinbase Wallet become more pronounced when the wallet is connected to the associated account. This connection, he argues, fully de-anonymizes users and links transactions across several chains. With regulators increasingly scrutinizing trading platforms for suspicious transactions, many users have moved their activities from Centralized Exchanges. However, Mishaboar’s warning suggests that privacy concerns persist, even with the use of non-custodial wallets.
