$25M Loss Claim Rocks Coinbase Amid Hacking Allegations

Ari Paul, founder of BlockTower Capital, has made a stunning claim against Coinbase. He alleges that the exchange 'lost' $25 million belonging to his firm several years ago and later covered up a series of hacks.

The issue reportedly dates back to when BlockTower Capital had an account with Coinbase, but Paul claims that the money was lost due to negligence or hacking. He also accuses Coinbase of covering up subsequent hacks that affected other companies.

The alleged loss is $25 million, which puts it at the center of an unresolved dispute tied to multiple legal proceedings. The issue has been ongoing for several years and Paul's claim puts a major exchange under scrutiny.