Crypto security researcher Taylor Monahan has publicly slammed Coinbase CEO Brian Armstrong and accused the exchange\u2019s leadership of prioritizing growth over user safety.<\/p>\n
Security failures tied to Coinbase Commerce resurfaced as Armstrong unveiled the company\u2019s 2026 roadmap.<\/p>\n
Responding to Armstrong\u2019s tweet about Coinbase\u2019s top priorities for 2026, which focused on expanding a global \u201ceverything exchange,\u201d scaling stablecoins and payments, and bringing the world on-chain through Base, Monahan argued that user protection remains noticeably absent.\u00a0She wrote<\/a>,<\/p>\n \u201cBrian still doesn\u2019t see user safety to be a priority for Coinbase. It cost them >$350m in 2025. It could\u2019ve been prevented.\u201d<\/p>\n Monahan claimed that Coinbase had been warned for \u201cmonths and months and months\u201d about serious security issues. Her frustration traces back to findings published by on-chain investigator ZachXBT in December 2024, which detailed a suspected exploit involving Coinbase Commerce.<\/p>\n According to the investigation, a Coinbase Commerce contract saw more than $15.9 million in suspicious USDC outflows on Polygon over a 16-hour period in April 2024, and funds were later bridged to Ethereum, swapped into ETH, and split across multiple wallets.<\/p>\n A threat actor using the alias \u201cExcite\u201d allegedly flaunted control of the stolen funds in Telegram chats and on social media, while a portion of the assets was later routed through mixers and gambling platforms in an attempt to obscure their origin. The case raised questions about why Coinbase\u2019s AML and transaction monitoring systems failed to flag the activity in real time, despite the size, speed, and pattern of the outflows.<\/p>\n Monahan had amplified those concerns at the time, criticizing the platform\u2019s failure to address the issue. Now, more than a year later, the blockchain researcher says nothing fundamental has changed. Reacting to Armstrong\u2019s latest roadmap, she accused the exchange\u2019s leadership of pushing for more users without first fixing known vulnerabilities.<\/p>\n \u201cLiterally over a year later. And the priority is still \u2018bring more lambs to my slaughterhouse pls.’\u201d<\/p>\n ZachXBT, for one, had repeatedly criticized<\/a> Coinbase over account lockouts and an undisclosed data breach that he says led to user losses. Last year, he claimed that Coinbase locked him out of his account twice within a month without explanation and failed to clearly inform users about a breach that exposed customer data.<\/p>\n The pseudonymous investigator had also said that he cannot recommend the platform due to ongoing transparency and security issues. His comments add<\/a> to past criticism, including claims that weak responses to scams and impersonation attacks contributed to tens of millions of dollars in losses between late 2024 and early 2025.<\/p>\n The post \u2018Bring More Lambs:\u2019 Researcher Slams Brian Armstrong Over Coinbase Security Failures<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Crypto security researcher Taylor Monahan has publicly slammed Coinbase CEO Brian Armstrong and accused the exchange\u2019s leadership of prioritizing growth over user safety. Security failures tied to Coinbase Commerce resurfaced as Armstrong unveiled the company\u2019s 2026 roadmap. Old Wounds, New Roadmap Responding to Armstrong\u2019s tweet about Coinbase\u2019s top priorities for 2026, which focused on expanding […]<\/p>\n","protected":false},"author":0,"featured_media":124317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-124316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/124316"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124316"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/124316\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/124317"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Handling of Security Incidents<\/h2>\n