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Coinbase is testing a new upgrade aimed at its most valuable users, and this time, CEO Brian Armstrong himself is confirming what’s behind the scenes. It is about Coinbase Concierge, a premium support program that gives top-tier clients access to dedicated human advisors for hands-on help, faster problem-solving and tailored strategic support.
Only a few thousand people currently have access to Concierge, but the early feedback has been really positive, says Armstrong.
The new service is being rolled out slowly to Coinbase One Premium subscribers and high-net-worth clients, and it is separate from the exchange’s standard 24/7 live chat and phone support.
As CEO says, the plan is to boost confidence and provide a more personalized, trustworthy experience.
Coinbase support breach
Just a couple of weeks earlier, Coinbase had a major security crisis. It was reported in May that cybercriminals had bribed and recruited support contractors in other countries. The attackers used social engineering tactics to get ahold of the personal data of less than 1% of users.
No private keys, passwords or money were accessed, and it looks like Prime accounts were untouched, but the damage has caused serious problems.
People like Michael Arrington, the founder of TechCrunch, said the breach could have really horrible consequences, as it involved things like people’s home addresses and account balances being leaked. The implications are severe: reports have linked such leaks to real-world kidnappings and extortion attempts targeting crypto executives and their families. In some cases, victims were mutilated or held for ransom.
At the same time, the exchange is facing legal issues. A lawsuit was filed in Illinois, claiming that the exchange breached the state’s biometric privacy laws. This has put even more pressure on the exchange to restore trust.
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