BlockTower Capital founder and CIO Ari Paul said on Sept. 29 that Coinbase had "lost" about $25 million belonging to his firm several years ago, but that he later concluded the incident was part of an effort to conceal multiple large-scale hacks. He said the funds have still not been returned.
Paul also said he had traced the issue to at least a dozen affected institutions, with the concealed amount exceeding $1 billion. He added that he could not disclose more details because multiple legal proceedings are still underway.
Coinbase has not issued a broader public response so far. Its official customer support account did contact Paul and asked him to continue the conversation via direct message.
On Sept. 29, BlockTower Capital founder and CIO Ari Paul said Coinbase had "lost" about $25 million belonging to his firm several years ago. He later said he found that the incident was actually tied to the concealment of multiple large-scale hacks, and that the funds have still not been returned.
Paul also said he had tracked at least a dozen affected institutions, with the concealed amount exceeding $1 billion. He said he could not reveal more because multiple legal proceedings are still ongoing.
In response, Coinbase's official customer support account contacted Paul and invited him to continue the exchange through direct messages. The company has not made any further public statement.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
