Coinbase hit with a $25 million loss claim from a major crypto investor.
Ari Paul, founder of BlockTower Capital, posted on September 29 that his firm’s $25 million was “lost” by Coinbase and that his investigation led him to allege “massive and repeated hacks,” referencing at least a dozen other firms and “over $1 b” covered up.
Coinbase Support said it messaged Paul to investigate. Earlier, a user named Kuno claimed Coinbase “stole” $1.2 million and demanded action within 24 hours; product head Jordan Fish replied no matching account existed.
In May 2025 Coinbase disclosed a breach affecting 69,400 users, where an attacker bribed support staff, refused a $20 million ransom, and later moved tens of millions of ETH into DAI. Additional impersonation schemes have been reported, including a $500,000 account drain in October 2025.
What standards should crypto exchanges meet when faced with unresolved loss allegations?
#Coinbase #Crypto #SecurityBreach #LegalDispute
Ari Paul, founder of BlockTower Capital, posted on September 29 that his firm’s $25 million was “lost” by Coinbase and that his investigation led him to allege “massive and repeated hacks,” referencing at least a dozen other firms and “over $1 b” covered up.
Coinbase Support said it messaged Paul to investigate. Earlier, a user named Kuno claimed Coinbase “stole” $1.2 million and demanded action within 24 hours; product head Jordan Fish replied no matching account existed.
In May 2025 Coinbase disclosed a breach affecting 69,400 users, where an attacker bribed support staff, refused a $20 million ransom, and later moved tens of millions of ETH into DAI. Additional impersonation schemes have been reported, including a $500,000 account drain in October 2025.
What standards should crypto exchanges meet when faced with unresolved loss allegations?
#Coinbase #Crypto #SecurityBreach #LegalDispute
