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Class Action lawsuit claims Coinbase failed to protect customers from fraud
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These latest breaches occurred less than a year after Coinbase settled similar claims by the California Attorney General and paid $300 million. The suit allege that the company was indifferent to consumers’ losses.
When victims sought help from Coinbase, it "routed them through its automated complaint processing — a recursive loop of impenetrable screens that prevented them from explaining their situation to any human being and was incapable of redressing the theft of their savings." The suit is seek restitution, civil and punitive damages, and injunctive relief, among other remedies. Trial attorney Matt Borden, says: "Coinbase plays a valuable and important role as a financial institution with billions of dollars in custodial funds.
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