Cryptocurrency exchange Coinbase is allegedly selling user data obtained through its analytics program Coinbase Tracer to the Immigrations and Customs Enforcement (ICE). The data includes “historical geo-tracking data” as well as transactional history, according to a contract obtained by Tech Inquiry.
The contracts confirms the details about the deals between Coinbase and ICE in recent times. The contract obtained by Tech Inquiry was signed last September and is worth a maximum of $1.37 million. The exchange signed a smaller contract with ICE for $29,000. The exchange also signed two deals with the Secret Service to provide licenses to Coinbase Tracer.
Speaking to crypto news site CoinDesk, a Coinbase spokesperson denied that Coinbase Tracer provides user data.
“All Coinbase Tracer features use data that is fully sourced from online, publicly available data, and do not include any personally-identifiable information for anyone, or any proprietary Coinbase user data,” the spokesperson said.
This is not the first time Coinbase Tracer is facing controversy. The program was launched after Coinbase acquired Neutrino, a blockchain intelligence firm that worked with a tech startup that provided spyware to governments, including the Kingdom of Saudi Arabia, which is well known for human rights abuses.