Anonymous whale who lost $55 million sues Coinbase, alleging refusal to return stolen funds

Odaily Odaily reports that an anonymous crypto whale residing in Puerto Rico has sued Coinbase, alleging that the exchange refused to return funds stolen during a 2024 hacking incident. The case bears a strong resemblance to a theft of over $55 million in DAI that occurred in August 2024. The plaintiff claims that after falling victim to a phishing attack, they hired multiple on-chain investigation firms to trace the flow of funds, which were ultimately traced to a Coinbase account.

According to the court filing, Coinbase confirmed in early December 2024 that it had frozen the relevant funds pending investigation, but has yet to return them to date. The exchange stated that it would only release the assets upon a court order. (Decrypt)