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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 to the lawsuit. My account just got hacked and more than $5k got stolen.
Please add me to the lawsuit. $75k from my bank account wired to Coinbase then my coins in CB cashed out, a total of $79k loss and wired into a third platform. Coinbase onky wants to deal with the service by email and when you do get a representative on the ounce, no one knows anything and they are all unhelpful
Please add me to the lawsuit. My account was broken into 12/23/21. I received a text saying my account password was changed, so I called Coinbase to report immediately. My account was locked and I went through the recertification process to prove I was the account holder. My account now has been totally erased as if I never set it up, even though I set it up and have used it since 2018. I have transaction records and bank records to show money was in and out of Coinbase. I have emailed, called and send DMs to them via Twitter and they just keep saying emails are being sent to clear things up, even though I have received no emails. The one email I did receive was from someone in Indonesia saying I needed to pay to have my account restored. They took over $30,000 that I was getting ready to take out for an upcoming surgery I now have to cancel. I’m an Army veteran who was injured while serving and had several surgeries since being medically discharged. I now am unable to work and without that money will no longer be able to afford medical bills or house payments for much longer. To say this has ruined my life is an understatement, it very well could leave me homeless or worse. I have been on antidepressants for months now and this is the thing that may break me.
Yes please add me
I would like to be added to this lawsuit. Exact same thing happened to me!!
Please add me to the lawsuit. The exact same thing happened to me $3800 on 12.15.2021.
I would like to be added too. Same as everyone else’s story.
My account was hacked Nov 21 and I lost $17,000 in crypto. Coinbase couldn’t give a shit.
My account was hacked Dec. 12, 2021 …..got me for $17,000. No doubt an inside job….big bunch of scam artists that need put out of business……sue them for several billion!!!
Please include me in this lawsuit.
My account was hacked on December 1, 2021