Coinbase sued for witholding frozen crypto linked to $55M hack
The suit, which calls the hack "sophisticated," is suing Coinbase on numerous counts, including unjust enrichment, and is seeking restitution.
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The suit, which calls the hack "sophisticated," is suing Coinbase on numerous counts, including unjust enrichment, and is seeking restitution.
Read more (2 min) →The data of roughly 217 Maine residents was leaked after Coinbase support staff were bribed by bad actors to steal user information.
Coinbase disclosed on May 14 that criminals bribed support agents to steal customer data and tried to blackmail it for $20M.
Coinbase says it will pay $50 million to tie up the investigation and the same amount again to bring its compliance programs up to standard.
Experts say that Coinbase could be in trouble if users can prove they would have sold up earlier if only they'd received the email updates.