WikiLeaks Fires Back After Coinbase suspends Its Bitcoin Account

One of the most popular cryptocurrency exchanges Coinbase has recently suspended WikiLeaks shops’ Bitcoin account which is alleged to have violated Coinbase’s user terms of agreement. WikiLeaks, as most of us know, is a non-profit organization which has always remained in controversy for publishing of sensitive information and classified documents.

In order to support its work, the WikiLeaks shop sells merchandise like clocks, clothing and other things while accepting payments in cryptocurrencies. These crypto payments were said to be published by Coinbase.

However, without any prior warning, WikiLeaks’ Bitcoin account was suspended with a message from Coinbase. WikiLeaks tweeted the message on its official account stating “Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of Service and we regret to inform you that we can no longer provide you with access to our service.”

The message also states “We respectfully request that you follow the on-screen instructions presented when you log into your Coinbase account to send any remaining balance offsite to an external address.”

With its Bitcoin account getting suspended, WikiLeaks will now find it difficult to convert its cryptocurrency payments into fiat cash. However, WikiLeaks is still accepting donations on its site in the form of cryptocurrencies.

Although Coinbase has declined to comment at the moment, WikiLeaks has retaliated back by asking for a “global blockade” of Coinbase. WikiLeaks has alleged that Coinbase has acted under ‘concealed influence’ and deemed it to be an ‘unfit member of the crypto community’.

WikiLeaks tweeted: “WikiLeaks will call for a global blockade of Coinbase next week as an unfit member of the crypto community. Coinbase, a large Californian Bitcoin processor, responding to a concealed influence, has blocked the entirely harmless @WikiLeaksShop in a decision approved by management.”

This move from Coinbase came just after the New Attorney General called for an investigation in 12 crypto exchanges. The investigation has been called for ensuring strict regulations and ensuring better transparency to customers.

Attorney General Schneiderman said: “With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability when they invest their money.”

He further added: "Yet too often, consumers don’t have the basic facts they need to assess the fairness, integrity, and security of these trading platforms. Our Virtual Markets Integrity Initiative sets out to change that, promoting the accountability and transparency in the virtual currency marketplace that investors and consumers deserve.”