Coinbase hit with a $25โฏmillion loss claim from a major crypto investor.
Ari Paul, founder of BlockTower Capital, posted on Septemberโฏ29 that his firmโs $25โฏmillion was โlostโ by Coinbase and that his investigation led him to allege โmassive and repeated hacks,โ referencing at least a dozen other firms and โover $1โฏbโ covered up.
Coinbase Support said it messaged Paul to investigate. Earlier, a user named Kuno claimed Coinbase โstoleโ $1.2โฏmillion and demanded action within 24โฏhours; product head Jordan Fish replied no matching account existed.
In Mayโฏ2025 Coinbase disclosed a breach affecting 69,400 users, where an attacker bribed support staff, refused a $20โฏmillion ransom, and later moved tens of millions of ETH into DAI. Additional impersonation schemes have been reported, including a $500,000 account drain in Octoberโฏ2025.
What standards should crypto exchanges meet when faced with unresolved loss allegations?
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