Coinbase Data Breach Sparks Fears of Kidnappings and Deaths

TechCrunch founder Michael Arrington claims that a recent Coinbase data breach, exposing sensitive user data like addresses and balances, will lead to deaths due to a surge in kidnapping attempts targeting high-net-worth crypto holders. Arrington calls for a re-evaluation of KYC regulations and imprisonment for executives failing to protect customer data. Former Coinbase CTO Balaji Srinivasan counters that the problem stems from government-mandated KYC data collection. The incident highlights serious security and privacy concerns in the crypto space and sparks debate over the merits of KYC.