Coinbase Failed to Freeze Accounts Following Data Breaches, Proposed Class Action Claims

Digital currency wallet and trading platform Coinbase was hit with a class action Monday in California Northern District Court over the company’s handling of customer-reported data breaches. The suit, brought by McCathern LLP, accuses Coinbase of failing to safeguard customer accounts and employing unreasonable measures such as freezing the accounts when breaches are reported. Counsel have not yet appeared for the defendant. The case is 3:21-cv-08689, Alfia v. Coinbase Global, Inc.

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