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Coinbase Breach Class Action Lawsuit Overview
- Who: A Texas man is suing Coinbase, the cryptocurrency trading platform.
- Why: The man alleges his Coinbase account was breached to make a $50,000 unauthorized transaction. He says at least 1,000 other Coinbase accounts have also been breached.
- Where: The plaintiff is looking to represent Coinbase users nationwide.
A Texas man says Coinbase violated the law by allowing a breach of his cryptocurrency account that led to a $50,000 unauthorized purchase made with his money, according to a new class action lawsuit.
Lead plaintiff Adam Alfia filed the class action against Coinbase Global, Inc. on Nov. 8 in a California federal court, alleging breach of contract, negligence, and fraud.
Alfia says he formerly used Coinbase as a way to buy, sell and manage his cryptocurrency.
However, on July 19 this year, Alfia says he logged into his Coinbase account to find that $50,000 in Ethereum had been purchased. Alfia says he did not make this purchase.
The same day, the plaintiff says he logged into his Bank of America account to see if the money had come out. It had. “This caused Mr. Alfia great stress and worry,” the lawsuit states.
Alfia lodged a complaint with Coinbase explaining what had happened. He says Coinbase responded by locking him out of his account for two months.
1K Coinbase Accounts — Or More — Breached Due To Lax Security, Claims Class Action Lawsuit
Alfia believes that at least 1,000 have been harmed by Coinbase not properly securing its accounts from breaches.
He’s looking to represent anyone in the United States who had a Coinbase account that was breached in the last four years.
Alfia is seeking certification of the class action, damages, fees, costs, and a jury trial.
Coinbase is facing mounting litigation alleging its lax security measures have left account holders locked out and victims of theft. A pair of cryptocurrency users filed a class action lawsuit in August saying their Coinbase wallets were either hacked or frozen without warning and their pleas to release their accounts so they could access funds went unheeded by the company.
Earlier in the year, another class action lodged in California claimed that Coinbase randomly locked users out of their accounts for months at a time causing them to lose funds, and even erased accounts in their entirety.
Do you have Coinbase? Let us know about any breaches you’ve noticed in the comments below.
The plaintiff is represented by Evan Selik and Christine Zaouk of MaCathern LLP.
The Coinbase Breach Class Action Lawsuit is Alfia et al., v. Coinbase Global, Inc., Case No. 3:21-cv-08689, in the U.S. District Court Northern District of California.
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185 thoughts onMan’s Coinbase Account Hacked, $50K Ethereum Purchased, Class Action Lawsuit Alleges
Please add me too. The same thing happened to me I lost 44,000 dollars over night even when they told me my account was locked I believe coin base is behind this.
My account was hacked today for close to 16k. If there is a class action lawsuit, I would like to be involved
My Coinbase account was compromised on January 15 of 2022. I started getting rolling text messages the funds were being taken out of my account so I quickly called Coinbase support and pressed one to lock it. Well I’m glad I did that but here it is the end of March I can’t access my funds . I didn’t realize when I opened the account it was under my married name now because of the name change I can’t use my Coinbase card or get into my account I was forced to sell my place in Florida because I needed money Coinbase Was still locked & unavailable to me.
I keep sending support everything they ask me for I’ve had a support ticket in since January it’s March I’m getting nowhere
March 7
My acct was hacked they transfered out 2- $1000 to bitcoin then transferred out plus took $700 of Shib
Coinbase says my fault for not securing my account/password?? Like wth I had on 2A BS excuse.
I have been robbed by coinbase.com for $150-200k in crypto. They do not assist or cooperate in any way. I would like to join this class action law suite with the man in Texas.
Coinbase locked me out from my account and I have over 300k$ on it. I’ve been trying to get in contact with their support for over a month now and I have not received any reponse from them. I want to file a lawsuit against Coinbase but I’m not sure how to do it.
I too was ripped off by Coinbase. They called after a hack & told me they wanted to protect my funds in my pro acct. They got information from me then stole an additional $11,000. from my Coinbase pro account. Pure fraud, breach of fiduciary duty, & theft of my money by Coinbase itself. It took me from August of 2021 to March to even figure this out due to Coinbase stonewalling. Up until then I thought they were protecting my assets when in fact they stole them. Surely this warrants punitive damages.
How do we get on this class action law suite? Any pointers or advice? Thanks
Was hacked 3/7 – 2 factor auth on . They failed sign in 15 times from a random ip address . Then finanlly somehow reset my password.. they got into my account and did 10-30 small transactions taking all my crypto. $8100 worth purchased in febuary. One month later, I was hacked, and all the crypto was taken.
Last December my account was also hacked and the hackers took all my cash and cryptocurrency in excess of $22K. They also transferred money from my bank account into Coinbase account and purchased more crypto which they immediately took as well. I was lucky my bank notified of the transaction and I went immediately into my bank account and transferred all my money out of that account; when they attempted to transfer again there was nothing to transfer. They also locked me out of my Coinbase account as they were transacting. They did over 9 transactions in a matter of minutes. I believe Coinbase should be held responsible for their negligence and lax security. They chose convenience over safety so they can make more money; total greed and they should not be trusted.
I want to be added to the lawsuit and I encourage everyone to contact their state AG and their senators to pressure Coinbase to return lost funds. Coinbase leadership team seems to be drinking champagne and eating caviar in Yaghts while their customers lose their life savings.
I was hacked in DEC 2021. Changed all my crypto to bitcoin and stole it all. then bout 1,500 in bitcoin with my debit card in small transactions. Changed my password and never got a notification from my bank because they got into my email also. Coinbase has terrible security, I have no idea how they were able to get into my account. For all I know coinbase stole my money. The customer service is a joke and they basically told me I am screwed (lost 4,500).
Please add me to your class action lawsuit. Hackers withdrew 52K from my account. I never exposed my password or gave any authorizations for any withdrawal.
The same thing happened to me…. Monday morning I logged into my Coinbase account only to find out it had been completely depleted! My account had be hacked into from someone supposedly from Indonesia!!! I spoke to over 10 different employees of Coinbase who ALL gave me the run around until finally one of them had the nerve to tell I was completely out of luck! For all I really know, it was Coinbase who stole my money…. HELP!!!!!!
The same thing happened to me…. Monday morning I logged into my Coinbase account only to find out it had been completely depleted! My account had be hacked into from someone supposedly from Indonesia!!! I spoke to over 10 different employees of Coinbase who ALL gave me the run around until finally one of them had the nerve to tell I was completely out of luck! For all I really know, it was Coinbase who stole my money…. HELP!!!!!!
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Same thing here, they stole a little over $3,000 August of 2021.