CryptoQuant Founder: Coinbase Disrupts Wallet Privacy to Raise On-Chain Data Analysis Bar

CoinVoice · 2026-01-21T03:19:39+00:00

CryptoQuant founder Ki Young Ju expressed dissatisfaction with Coinbase Wallet's organization mode on the X platform, pointing out that the mixed account balances affect the accuracy of on-chain data analysis. CryptoQuant has adjusted its clustering logic to better track Bitcoin inflows and outflows.

CoinVoice

2026-01-21 03:19:39

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CoinVoice has learned that CryptoQuant founder Ki Young Ju posted on the X platform expressing dissatisfaction with Coinbase’s wallet organization method. He stated that Coinbase often disrupts wallets under the guise of protecting privacy. Additionally, the AOP (Account Ownership Profile) published by Coinbase combines the balances of exchanges and custodial accounts, making it difficult to accurately distinguish between pure exchange reserves and custodial reserves, thereby raising the threshold for on-chain data analysis.

CryptoQuant has reverse-engineered the recent changes and adjusted its custom clustering logic to track and capture most real-time Bitcoin inflows and outflows. Currently, its platform only tags wallets that are 100% confirmed to belong to Coinbase (to avoid misjudgment). Some platforms may display higher reserve numbers, but this does not necessarily mean higher accuracy.

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