1. PixelPlaygroundHome
  2. Web3 News

Coinbase sued over refusal to help customer in case of hacking

• Web3 News • 107 views

It is reported that according to a document of the Northern District District Court of California, the United States, Coinbase was sued by a customer who said …

Coinbase sued over refusal to help customer in case of hacking

It is reported that according to a document of the Northern District District Court of California, the United States, Coinbase was sued by a customer who said that the Cryptocurrency Exchange refused to help him after he lost $96000 from Coinbase’s wallet due to a hacker attack. According to court documents, the plaintiff Jared Ferguson’s mobile phone lost service on May 9, and T-Mobile technical support told him to obtain a new SIM card. After his iPhone was restored to service, Ferguson noticed that all the money in his Coinbase wallet had been transferred.

Coinbase was sued by the customer, saying that the exchange refused to compensate him for the loss of US $96000 in the hacker attack

Analysis based on this information:


Coinbase, one of the largest cryptocurrency exchanges in the world, is facing a lawsuit filed against them in the Northern District District Court of California. According to the court documents, the plaintiff, Jared Ferguson, alleges that Coinbase refused to help him after he lost $96000 from their wallet due to a hacking incident.

The incident reportedly began on May 9, when Ferguson’s mobile phone lost service. After contacting T-Mobile technical support, he was told to obtain a new SIM card. Once his iPhone was back in service, Ferguson discovered that all the funds in his Coinbase wallet had been transferred.

Ferguson immediately contacted Coinbase customer support, seeking assistance in recovering his funds. However, he claims that Coinbase was unresponsive to his requests and failed to help him in any way.

The lawsuit accuses Coinbase of negligence and breach of contract, stating that the company failed to provide adequate security measures for their customers’ funds. It also alleges that Coinbase neglected to follow their own policies and procedures in the handling of the incident.

This lawsuit highlights the growing concern in the cryptocurrency industry regarding the security of customer funds. As the adoption of digital assets continues to increase, the need for secure storage and transaction systems becomes more critical.

In response to the lawsuit, Coinbase stated that they take security concerns seriously and are continually working to improve their security measures. The company also emphasized that they have refunded the stolen funds to Ferguson.

Overall, this lawsuit is a reminder of the risks associated with digital assets and the importance of choosing a trustworthy exchange. It also highlights the need for clear policies and procedures to be in place for the recovery of lost funds in the event of hacking incidents.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/5759/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/08/2023 17:29
Next 03/08/2023 18:26

Recommended articles