Coinbase Removes Crypto “Rug Pull” Links From its Platform After Warnings

Popular cryptocurrency exchange Coinbase has removed links to “how to buy” instructions for three crypto projects from its website, Reuters reported Thursday.

Coinbase Deletes Crypto Links

The tokens – DeFi100, Mercenary, and SQUIDwere identified as rug pulls and the exchange believes that leaving the links on its website could cause users to lose their funds.

According to Jaclyn Sales, Coinbase’s representative, the links were removed from the platform after Reuters published a report on the issue this week.  

Sales noted that the pages were generated from data provided by leading crypto price tracking website CoinMarketCap. The representative also added that the pages contained a disclaimer that the information was not investment advice and as such, the company was not liable for “errors and delays.”

However, CoinMarketCap’s vice president of growth and operations Shaun Heng  said they did not produce the pages and were not in partnership with Coinbase.

Coinbase Doubles Down on Security

Founded 10 years ago, Coinbase is a US-based crypto exchange that allows users to buy and sell cryptocurrencies like bitcoin, ethereum, and about 50 altcoins. The platform is currently the largest in the US with over 73 million global users.

With bad actors targeting trading platforms, Coinbase is not letting its guard down and has been doubling down on security in recent times to protect its users against scammers and hackers alike.

Last year, the exchange announced the acquisition of leading Israeli crypto custody infrastructure company Unbound Security to improve its security.

“Crypto can’t grow without strong cryptography and strong security, but it also needs to be user friendly. Secure multi-party computation is an application of advanced mathematics to enable crypto assets to be stored, transferred, and deployed more securely, easily, and flexibly than ever before,” Coinbase said.

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