An anonymous whale who lost $55 million is suing Coinbase, accusing it of refusing to return stolen funds

Odaily Odaily A anonymous crypto whale residing in Puerto Rico has sued Coinbase, accusing it of refusing to return funds stolen in 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 suffering a phishing attack, he hired multiple on-chain investigation firms to track the flow of funds, which were ultimately traced to a Coinbase account.

According to the lawsuit, Coinbase confirmed in early December 2024 that it had frozen the relevant funds pending investigation, but has yet to return them to date, and stated it would require a court order before releasing the assets. (Decrypt)