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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
Same issue. Coinbase hacked. Email and phone number on account taken over. Lost 5,500 on April 21. I would like to be part of lawsuit. Coinbase is no help.
I have a Coinbase a count. On December 4, 2021, $56,000 approximately was stolen out of my account. It was an unauthorized withdrawal. The two factor authentication went down on my account. It took them approximately 2 1/2 weeks to get it back up. During that time is when I lost all that money.
Please add me to your Lawsuit, in January of this year (2022) over $3,000 was stolen out of my Coinbase account, the hackers stole another $1,000+ from my Bank Account to purchase more crypto. The Hackers got into my account at Coinbase, changed my e-mail address, changed my password, locked me out of my own account, hacked into my phone, and had my phone disconnected so they could get the verification code on their end to access my account. Coinbase Has done nothing, I have filed a complaint, I have filed a police report, I still cannot get into my account, Coinbase, know exactly the e-mail address it was changed to and the password, and have done nothing to assist in the matter. Coinbase needs to be responsible for not having the proper security measures in order for something like this to happen to so many people.
$1000 taken out of my account by coinbase unauthorized a year ago and Bank of America honored it.
I forgot to mention that in January of 2021, I was locked out of my coinbase account when this $1000 was taken out of my checking account. To date, I have been unable to get into the coinbase account and had to close the Bank of America account because they said that I authorized the transfer (from an account I could not and still can’t get into).
Please add me. I had 37k in my account last night that was stolen. They made a ton of small transactions.
Same thing happened to me. Coinbase allowed my account phone number to be changed and then 96 withdrawals in about 1/2 hour stripping all my money. I hadn’t even purchased Bitcoin yet. Please add me to this lawsuit.
me too. add me
Same story – I would like to join the class action lawsuit. I lost a total of $8.5K. Coinbase negligently failed its custodial and fiduciary responsibilities to safeguard and secure funds. As importantly, they failed to adequately communicate with me their customer to adequately address these thefts in breach of their duties.
Same scenario 7500 gone
Please add me also to the lawsuit.
My account got hacked last weekend, i had 3000$ in crypto, i lost my cell reception over the weekend, and couldn’t get in to my coinbase account, i called them and they said it takes 24 hours to get the reset password email, never got it and then on Monday the haver pulled 2000$ from my bank to buy more bitcoin, I called the bank and they stop the transaction but coinbase says the transaction went through and that i have a minus balance of 2k and i need to pay that so i can get in my account. And also they say that they don’t do refunds.Im not going to pay that. Please help, i hope coinbase gets sued for the rest of there existence.
Same breach on coinbase happned to me too. Please add me to the list . I have lost approximately 11500$ on april 10th.
A hacker took $899.99 out of my bank account and purchased $899.99 of crypto through my hacked coinbase account. I too have been locked out until I pay them the $899.99. They already took the money I had in my account but it wasn’t enough to cover the entire $899.99. They’re asking for the balance of $375 dollars before they let me back into my account. I’m not paying the balance. I’m just gonna ignore that I even have a coinbase account and use a different platform. But I’d love to sue them. I have proof from my bank that the money they’re trying to recover was indeed stolen.