Coinbase Accused of Hiding Repeated Hacks Amid Customer Losses
A public dispute has erupted on social media platform X over how Coinbase handles customers who claim to have lost funds on the exchange. The controversy began when a trader, posting as kuno, alleged that Coinbase 'stole' $1.2 million from them in a year-old incident.
kuno claimed they had opened more than 30 support tickets and gave the exchange 24 hours to fix the issue before taking legal action and posting a recording of a call with Coinbase staff.
Coinbase's executive, Jordan 'Cobie' Fish, replied that he could not find any account matching kuno's description and asked for their email. However, he later stated that there had been no response to any outreach by Coinbase to the user over the last 6+ months, suggesting that the dispute was being used to promote a token.
Ari Paul, founder of crypto investment firm BlockTower Capital, then entered the conversation, alleging that Coinbase 'lost' $25 million of his firm's funds 'a couple years ago' and was 'actually covering up massive and repeated hacks.'