According to @kwok_phil, the recent Coinbase hack exposed sensitive user data including personal names, numbers, and home addresses, underscoring critical security vulnerabilities in centralized crypto exchanges (source: Twitter/@kwok_phil, May 21, 2025). During a previous Consensus fireside chat, Ripple CTO David Schwartz (@JoelKatz) demonstrated how the XRP Ledger's design mitigates such privacy risks by minimizing personal data exposure on-chain. For traders, this incident increases attention on decentralized blockchain solutions like XRP Ledger, which may gain momentum as users and investors seek safer alternatives. Monitoring XRP trading volumes and price action is recommended as market sentiment shifts toward privacy-focused protocols.