Coinbase Accused of Covering Up Massive Hacks and Misleading Investors

Crypto investor Ari Paul has accused Coinbase of mishandling customer funds and covering up massive hacks. According to Paul, Coinbase lost $25 million of his firm's assets two years ago, but claimed it was never hacked at least as recently as that time.

Paul claims that the exchange knowingly 'misleading' customers and investors about this, deliberately over time. He says that he has traced this issue to at least a dozen other affected firms and over $1 billion covered up.

Coinbase responded by sending Paul a direct message, saying they would look into the matter. However, Paul has maintained that he has no vendetta against Coinbase and is not short on its equity, having a long position in crypto overall.