Coinbase2026-09-29 03:52:34Ari Paul says Coinbase concealed hacking losses topping $1 billionBlockTower 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.20
Coinbase2026-09-29 03:11:27Ari Paul says Coinbase covered up hacks tied to missing $25 millionAri Paul, founder and chief investment officer of crypto asset management firm BlockTower Capital, said in a post on X that Coinbase had "lost" $25 million belonging to his firm several years ago. He said the matter was later found to be part of an effort to conceal large-scale and repeated hacking incidents, and that the funds have still not been returned. Paul also said his team has traced at least more than a dozen other affected institutions. According to his statement, the amount concealed exceeds $1 billion. He added that he can only disclose this much for now because multiple legal proceedings are still underway. The remarks were cited by ChainCatcher in a 7x24 news update. No further details were provided in the source text beyond Paul’s public statement on X.20
