Coinbase Is Closing Accounts Down

Just saw something really interesting that I had to share with the community.

We all know the increase of hacker ransom demands have led to an increase in security researchers and consultants that deal with these problems for their clients.

According to a report from CoinDeck, a certified white hacker by the name of Vinny Troia (CEO of Night Lion Security) has had his account shut down by Coinbase after an investigation by Coinbase into Vinny's use of Bitcoin.

Coinbase sent a compliance form asking how he used his Bitcoin, which Vinny replied, "I told them I run a security firm. I pay for ransoms and buy documents on the dark web when clients request it."

After asking Vinny if he had the proper Department of Justice permission (I did not realize this even existed), Coinbase closed down his account and blocked his entire family for the site leaving him scrambling to keep his security business afloat.

Is Coinbase really going down this fast? Why would Coinbase erode the public's trust in them by doing something like this? They have to know security researchers work field includes ransoms and buying documents. and do you really need the Department of Justice permission before you use Bitcoin as a security researcher?

Source:
http://www.coindesk.com/coinbase-white-hat-hacker-dont-want-bitcoin/