Coinbase Denies Doxxing Customer In Bitcoin-backed Mortgage Case
Coinbase and partnerBetter Home & Financeunveiled their first crypto-backed mortgage for a home purchase in mid-June. The company digitally altered a photo of the customer’s house for privacy but critics. . .
Coinbase and partnerBetter Home & Financeunveiled their first crypto-backed mortgage for a home purchase in mid-June. The company digitally altered a photo of the customer’s house for privacy but critics still claimed the location was identifiable. Coinbase stated it received the homeowner’s express permission to use the altered image after removing key identifiers. The mortgage program counts pledgedBitcoinat roughly 40% of its value and resulted from a 2025 FHFA directive. Despite Coinbase’s anonymization steps,Protosconfirmed it was able to determine the house’s address. On June 16,Coinbaserevealed 21 new products, including the firstBitcoin-backed mortgage, during a publicevent. However, controversy arose when the company shared a photo of the financed home, leading to claims of doxxing a customer. The program, a joint effort with lenderBetter, was formally announced inMarch. - Advertisement -Consequently, a critic on social media claimed to have found the property’sZillow listing. In response, aCoinbasespokesperson toldProtos,“We received a picture of the house, taken by the homeowner, and took steps to anonymize the house by removing and changing key identifiers and features. ”They added that the company received“their express permission to use the altered image. ”Despite these measures,Protosstaff confirmed it was able to determine the address of the house. This potential privacy lapse is significant given Bitcoin owners’ appeal to thieves. The mortgage product became viable after a 2025 directive from then-FHFA Director Bill PulteorderedGSEs to consider crypto assets. Meanwhile, under the program’s terms, pledged BTC receives credit for roughly 40% of its value. This represents a substantial 60% haircut on the asset’s market price. The program only triggers liquidation after a borrower becomes 60 days delinquent on payments. ✅ FollowBITNEWSBOTonTelegram,Facebook,LinkedIn,X. com, andGoogle Newsfor instant updates. - Advertisement -Previous Articles:Kalshi, StarCompliance Launch Prediction Market MonitoringAttackers Outlive Takedowns with SSH, TailscaleSpacex IPO: To Buy Now Or Wait For Drop?“Bitcoin Rodney” Pleads Guilty in $1. 8 Billion Crypto FraudCoinbase bets on AI, expands beyond crypto tradingStay in the Loop🔥Join 1. 2K Smart TradersGet exclusive crypto insights, breaking news, and market analysis delivered straight to your inbox. No fluff, just facts.