Non-custodial crypto pockets Coinbase Pockets is set to originate a brand new goal that some crypto safety consultants warn would per chance presumably perchance develop into a brand new tool for scammers to give consideration to customers.
Coinbase Pockets, the cryptocurrency pockets developed by the Coinbase exchange, appears to be aiming for huge app place with a brand new goal — though some safety consultants warn it would per chance presumably perchance enact extra hurt than simply.
Stable, encrypted messaging is coming to the new Coinbase Pockets, powered by @xmtp_. DMs and personnel chats are about to earn a total bunch extra highly effective.
– Refer to AI Brokers
– Originate trades in accurate-time
– Exercise mini apps straight away in the chat pic.twitter.com/QkjZCGp52A— Coinbase Pockets (@CoinbaseWallet) Would possibly additionally 13, 2025
In an X announcement on Tuesday, the Coinbase Pockets personnel stated customers will soon be ready to make exhaust of “encrypted messaging” powered by XMTP, an starting up protocol for speedy conversation.
The exchange will notice to every voice messages and personnel chats. The personnel also stated customers shall be ready to earn admission to mini apps “straight away in the chat,” signaling a push into the same territory as Telegram, which had launched mini apps nonetheless later restricted their pattern to those building on the TON community.
Kids rob >$50m every weekend through Coinbase CEX account takeovers.
Coinbase has didn’t admire, detect, or end these for over a twelve months.
Coinbase as a substitute made up our minds to provide a goal that provides scammers a voice, encrypted line to all their pockets customers.
Mighty. https://t.co/7tXrrD4NzA
— Tay 💖 (@tayvano_) Would possibly additionally 14, 2025
While some customers were the exchange, safety consultants weren’t as thrilled. MetaMask‘s head of safety Taylor Monahan known as out Coinbase in a post on X, announcing the firm “has didn’t admire, detect, or end” scammers who’ve been taking up user accounts on Coinbase “for over a twelve months.”
“Coinbase as a substitute made up our minds to provide a goal that provides scammers a voice, encrypted line to all their pockets customers,” Monahan added.
“The contrivance in which forward for money or extra starting up, free, efficient”
>It’s likely you’ll presumably personal now locked me out of my account twice in the previous month for no given motive (again at the moment time)
>You had customer recordsdata leaked you’ve gotten gotten but to transparently expose (lead to thefts)
I can no longer counsel Coinbase as an…
— ZachXBT (@zachxbt) April 6, 2025
Monahan’s remarks echo longstanding criticism from nameless blockchain investigator ZachXBT, who has repeatedly flagged Coinbase’s outdated protections against social engineering scams. In a unique Telegram post, ZachXBT neatly-known that “no diversified major exchange has the same predicament,” adding in every other X post that they “can no longer counsel Coinbase as an exchange to someone.”
As of press time, Coinbase hasn’t issued any public response to the accusations.
