BlockTower Founder Claims Coinbase Concealed Over $1 Billion in Hack Losses

Odaily reports: Ari Paul, founder of BlockTower Capital, posted on X platform stating that Coinbase had concealed hundreds of millions of dollars in hack losses and failed to return customer funds. Paul claimed that Coinbase "lost" approximately $25 million of BlockTower's funds several years ago; subsequent investigations revealed that at least 12 companies were affected, with total concealed losses exceeding $1 billion. Multiple legal cases are currently ongoing, so further details cannot be disclosed at this time.