Top Class Actions  |  February 3, 2020

Category: Closed Class Actions

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This settlement is closed!

Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!

coinbase logo with coin

Coinbase has agreed to pay $962,500 to resolve claims that they aided and abetted the theft of Cryptsy cryptocurrency.

The settlement benefits Cryptsy account owners who held Bitcoin and other cryptocurrencies with the company as of Nov. 1, 2015, and who are unable to access their currencies.

The plaintiffs filed their Cryptsy Coinbase class action lawsuit in December 2016, alleging that Cryptsy stole cryptocurrency from their account holders. The plaintiffs also claimed that Coinbase contributed to the theft of cryptocurrencies.

According to the plaintiffs, Cryptsy founder Paul Vernon stole cryptocurrency from account holders, closed Cryptsy, moved to China, and refused to return the currency to its rightful owners.

Coinbase was accused of aiding and abetting Vernon’s scheme by allowing them to have accounts on their platform. Through these accounts, Vernon was allegedly allowed to convert bitcoin to U.S. dollars.

Although Vernon has reportedly refused to cooperate with this case against his company, Coinbase has agreed to a settlement to resolve the claims against them. The company has not admitted any wrongdoing but will pay $926,500 into a settlement fund.

Payments under the Crypsty Coinbase settlement will vary depending on the number of claims filed with the settlement. However, Class Members have the potential to recover up to 100 percent of their unreimbursed losses or damages.

In order to benefit form the settlement, Class Members must submit a valid claim form by April 13, 2020. The deadline for exclusion and objection is March 13, 2020. The final approval hearing for the Cryptsy Coinbase settlement is scheduled for April 17, 2020.

Consumers who received a payment from the previous Crypsty class action settlement do not have to file a claim. Instead, they will automatically have their claim reviewed and paid using the same submitted information.

Who’s Eligible

Cryptsy account owners who held Bitcoin and other cryptocurrencies with the company as of Nov. 1, 2015 and who are unable to access their currencies.

Potential Award

Varies. Class Members will receive a pro rata portion of the net settlement fund up to 100 percent of any unreimbursed losses or damages.

Proof of Purchase

Proof of holdings (account statement, screen shots, trade verifications, other documentation)

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

4/13/2020

Case Name

Leidel, et al. v. Coinbase Inc. d/b/a Global Digital Asset Exchange (GDAX), Case No. 9:16-cv-81992-MARRA, in the U.S. District Court for the Southern District of Florida

Final Hearing

4/17/2020

Settlement Website
Claims Administrator

Coinbase Administrator
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
Info@CoinbaseSettlement.com
(833) 277-8323

Class Counsel

Marc. A Wites
WITES LAW FIRM

David C. Silver
SILVER MILLER LAW

Defense Counsel

Steven A. Ellis
Laura A. Stoll
Galen A. Phillips
GOODWIN PROCTER LLP

J. Randolph Liebler
Andrew Kemp-Gerstel
James R. Liebler
LIEBLER GONZALEZ & PORTUONDO

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19 thoughts onCryptsy Coinbase Class Action Settlement

  1. Nancy Windes says:

    I put 1100.00 in Coinbase and have been locked out and unable to get into my account. Can I get in this lawsuit and get my money back?

  2. Alberto Morantes says:

    I lost in Oct 2020 my Bitcoins and Litecoins that I used to have with Coinbase. They don’t take any responsibility and its answers and feedback are unacceptable.

  3. Darla Larsen says:

    I lost a lot in this operation! Please add me.

  4. DICKY SIMPSON says:

    PLEASE ADD ME PLEASE

  5. Linda Joseph says:

    Add me please.

  6. yvonne apelian says:

    Please add me

  7. Laura Wagoner says:

    Coinbase stole all my crypto money from my account while it was locked. They also transferred very small amounts at a time eating up over half of my bitcoins stored with them just in their fees. Not one transfer was valued more than the 1.99 or so fee they charged per transaction until my account was at zero. This was when bitcoin was cheap too.. the next month it went to over 10k per coin. I’m not the only one that it’s happened to. You should help us next

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Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.