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

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

According to the court filing, Coinbase confirmed in early December 2024 that it had frozen the relevant funds pending an investigation. However, the funds have not yet been returned, and Coinbase has stated it will only release the assets upon a court order. (Decrypt)