As coinbase is a Bitcoin wallet and they transact a lot of money it suprises me that they reveal details of their implementation publicly. Edit - Getting downvoted a lot. Seems that some people think that the expression 'You shouldn't rely on security through obscurity' means that it's OK to publish your backend infrastructure. Best practice is defence in depth. That means you secure everything including your impleme…
For a great and well-reasoned argument see the Gov.UK guidelines, which state that all of their new code has to be open source. (yes, that's the UK government, not some startup) They even specifically mention security-enforcing code![0]
> Code that contributes to your service’s security does not need to be kept closed. Many security-enforcing functions, such as cryptographic algorithms, are provably better when openly examined and understood while the keys are kept private.
They also have another guide and a blog post specifically about security considerations with open source code.[1][2]
> Doesn’t it give attackers an advantage?
> Although there’s a common concern that coding in the open could give an advantage to an attacker, we believe that only a negligible advantage exists. [...] In fact there is no evidence to suggest that being open source makes software more susceptible to exploitation.
I would highly recommend reading through those if you really think Coinbase is now under a higher risk of attack due to this article. They aren't.
[0]: https://www.gov.uk/service-manual/technology/making-source-c... [1]: https://www.gov.uk/government/publications/open-source-guida... [2]: https://mojdigital.blog.gov.uk/2017/02/21/why-we-code-in-the...