Coinbase Faces Hack Cover-Up Allegations as Customers Claim Huge Losses
- Coinbase faces public scrutiny after BlockTower Capital founder Ari Paul alleged the exchange concealed "massive and repeated hacks" involving more than $1 billion in losses.
- Ari Paul alleged on Monday that Coinbase "lost" $25 million of his firm's funds "a couple years ago," claiming the exchange covered up repeated hacks without providing public evidence.
- Other users have voiced complaints, including a trader citing a $1.2 million loss and Shitcoin CPA, who claimed to have lost access to about $45,000, writing "4 years later, I still dont have my account back."
- Jordan "Cobie" Fish, who oversees the Base app, replied that he "can't find any account matching this description," suggesting the dispute was being used to promote a token and calling it an "entirely fake/scam report/engagement farm."
- The exchange denied hiding hacks, writing "Coinbase is not hiding a series of hacks," following a May 2025 incident where criminals bribed staff to steal customer data and demanded a $20 million ransom.
11 Articles
11 Articles
While hacking incidents continue to increase day by day in the cryptocurrency market, the market was recently shaken by the Bitget hack. It is stated that there is a loss of over $350 million, and different statements are emerging regarding the Bitget hack. A notable statement came from Ari Paul, founder of the crypto investment company BlockTower Capital, who claimed that Coinbase lost more than $1 billion to hackers […] Source: Bitcoinsistemi.…
BlockTower's founder accuses Coinbase of hiding a series of hacker attacks that would cost him $25 million, reopening the debate on Coinbase's security issues. Key points Ari Paul, founder of BlockTower, claims to have lost $25 million on Coinbase due to repeated and never [...]
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