08/11/2023
Sonn Law Group PA Is Investigating Claims on Behalf of Coinbase Users Whose Cryptocurrency Has Been Stolen or Misappropriated
MIAMI, FLORIDA UNITED STATES, August 11, 2023
On July 23, 2023, a federal court judge dismissed a class action lawsuit in the Northern District of Georgia, against Coinbase Global, Inc. and Coinbase Inc. (collectively “Coinbase”) (Case No: 1:22-cv-03250), on behalf of users of Coinbase cryptocurrency accounts, but left the door open for Coinbase customers to sue Coinbase in arbitration.
Now, Coinbase users who lost money with Coinbase due to fraudulent activity may have a claim.
The now dismissed lawsuit allegations, alleged that contrary to Coinbase representations, designed to induce consumers to entrust Coinbase with funds, Coinbase did not properly employ standard practices to safeguard and protect user accounts on Coinbase.com or Coinbase Wallet. “The basic allegations of the suit were that Coinbase Coinbase.com and Coinbase Wallet are riddled with security flaws that enabled fraudsters to infiltrate accounts and appropriate victim’s cryptocurrency, and that Coinbase improperly and unreasonably locks out its consumers from accessing their accounts and assets, either for extended periods of time or indefinitely, improperly seizes its customers’ assets, and fails to properly respond to customer complaints or redress consumer problems,” said Jeffrey Sonn, of Sonn Law Group in Miami. “Now, customers who lost money can sue Coinbase in arbitration,” added Sonn.
Sonn Law Group PA (www.sonnlaw.com) currently is investigating potential claims on behalf of Coinbase customers who may have been harmed by Coinbase’s actions and is considering the filing of arbitration proceedings on behalf of victims of Coinbase, in cases where the customer lost $50,000 or more.
IF YOU HAVE HELD A COINBASE, COINBASE PRO, COINBASE ADVANCED, COINBASE ONE, OR COINBASE WALLET ACCOUNT AND EXPERIENCED LOSSES DUE TO THEFT OR MISAPPROPRIATION OF YOUR CRYPTOCURRENCY, you may have standing to hold Coinbase responsible for the companies’ possible bad acts. You may also be able to assist in reforming the companies’ practices to prevent future wrongdoing.
IF YOU ARE INTERESTED IN LEARNING MORE ABOUT THE INVESTIGATION AND LEGAL PROCEEDINGS, PLEASE CONTACT US AT THE INFORMATION BELOW. IF EMAILING, PLEASE INCLUDE A PHONE NUMBER.
ABOUT SONN LAW GROUP PA
Sonn Law Group PA (www.sonnlaw.com) is a nationally recognized law firm that concentrates its business in helping investors who are the victims of fraud, negligence and other claims. With offices in Miami, Atlanta and New York (by appointment) the firm represents individual and institutional investors in securities arbitration and class action lawsuits, consumer class actions and insurance coverage. For free information about the firm and its attorneys, see http://www.sonnlaw.com. Attorney advertising. Past results do not guarantee future outcomes.
Jeffrey Sonn
Sonn Law Group PA
+1 833-912-3000
[email protected]