The SEC lost almost a year of agency text messages after devices were reset under an inactivity policy, prompting Coinbase to seek sanctions and expedited discovery. The loss — covering October 2022 to September 2023 — raises major questions about the SEC’s recordkeeping and transparency in high‑profile crypto matters.
Missing records span Oct 2022–Sep 2023, including FTX fallout and major enforcement actions.
Coinbase filed for sanctions and faster discovery, alleging FOIA violations and late disclosure.
Inspector General: multiple senior officials’ devices affected; nearly 40 devices lacked proper backups.
SEC lost texts: Coinbase seeks sanctions after nearly a year of agency messages disappeared; read the latest developments and what it means for crypto oversight.
What happened when the SEC lost key crypto records?
SEC lost texts after agency-issued phones were reset under a policy that wipes devices inactive for over 45 days, erasing messages from October 2022 to September 2023. The SEC Office of Inspector General confirmed retrieval attempts failed and many deleted messages qualify as federal records, sparking transparency and recordkeeping concerns.
How did the texts disappear and who is affected?
The Office of Inspector General found the purge resulted from automatic device resets and incomplete backup procedures. More than 20 senior officials may have lost records and nearly 40 devices were never properly backed up. This suggests a systemic recordkeeping failure rather than an isolated incident.
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Why is Coinbase pushing for sanctions?
Coinbase argues the SEC’s loss of records obstructs a fair legal process and violated the Freedom of Information Act. The exchange claims delayed disclosure and incomplete production of documents denied stakeholders insight into internal policy debates, justifying sanctions and accelerated discovery to establish the full record.
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The SEC Office of Inspector General identified automatic device wipes for phones inactive over 45 days and numerous failures in backup protocols. Investigators confirmed many erased messages meet the criteria for federal records but were not preserved. The report flagged multiple senior officials and tens of devices as affected.
Messages dated from October 2022 through September 2023 were erased after devices were reset under the agency’s inactivity policy.
Yes. The missing texts cover high‑profile events and enforcement decisions, which could affect evidentiary records and public understanding of internal deliberations.
Industry observers note the deleted period coincides with major crypto events, including the FTX collapse and heightened regulatory activity. Experts in records management told reporters that federal agencies must maintain defensible preservation protocols; failure to do so undermines enforcement credibility and public trust.
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