What is Coinbase?
Coinbase is a cryptocurrency exchange platform where customers can buy, sell, transfer, or store their cryptocurrency. Coinbase is one of the largest cryptocurrency platforms in the United States. It offers over 260 types of cryptocurrency and is expected to continue growing. Coinbase is widely known for its user-friendly design that targets cryptocurrency for beginners.
Hacks and Compliance Issues Leave Users Vulnerable
Coinbase Hacks
Coinbase has been hacked several times over the past few years. Hackers have attempted to break into the crypto exchange by using phishing scams, social engineering tactics, and malware. These malicious attempts have resulted in numerous data breaches resulting in the loss of cryptocurrency for Coinbase account holders. In some cases, Coinbase has refused to refund any of the money removed from customer accounts as a result of hacking.
Coinbase Compliance Related Failures
Coinbase detected a flaw in the cryptocurrency exchange platform that enabled hackers to successfully complete unauthorized transactions, resulting in significant financial losses to Coinbase users. These security breaches can also lead to identity theft and other fraudulent activities.
Potential Legal Claims Against Coinbase
Victims of cyberattacks may experience significant financial losses, identity theft, and possible impact to credit scores. While cryptocurrency is still relatively new, a knowledgeable crypto or cybersecurity lawyer can help alleviate your concerns while protecting your digital assets.
Victims of cyberattacks may find themselves filing a claim against Coinbase on the grounds of negligence, breach of contract, and violations of data privacy laws.
Protecting Yourself Against Future Attacks
Victims of hacking may be entitled to compensation. Compensation could include recovering funds lost due to unauthorized transactions and reimbursement for related damages, such as credit monitoring or identity theft protection costs.
Coinbase Crypto Gone? It Might Not Be Too Late
Dimond Kaplan & Rothstein understands the growing popularity of cryptocurrency and the increasing risk of theft associated with digital asset accounts. If you’ve been a victim of cryptocurrency theft from your Coinbase account, you're not alone. Hackers and scammers are routinely developing new methods to steal cryptocurrency, leaving victims frustrated and unsure of their options.
Our experienced legal team has a deep understanding of cryptocurrency, cybersecurity, and the complexities of online theft. We can guide you through the legal process of holding Coinbase accountable for any security breaches and recovery damages for the losses that you suffered.
Don't wait to take action. The sooner you contact Dimond Kaplan & Rothstein, the better chance you have of recovering damages related to your stolen cryptocurrency. Schedule a free consultation today to discuss your case and explore your legal options.
