Coinbase Accused of Concealing Over $1 Billion in Hacker Attack Losses, at Least a Dozen Institutions Affected

BlockBeats news, September 29: Ari Paul, founder and CIO of crypto hedge fund BlockTower Capital, stated that several years ago Coinbase "lost" approximately $25 million of their company's funds, which was later discovered to be a cover-up of multiple large-scale hacking attacks, and the funds have still not been returned to date. Ari Paul also claimed that at least a dozen affected institutions have been traced, with covered-up amounts exceeding $1 billion, but further disclosure is impossible due to multiple ongoing legal proceedings.

Coinbase's official customer support account responded by stating that they have contacted Ari Paul and invited him to a private message, and have not made any further public response for the time being.