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

Odaily Planet Daily: An 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 striking resemblance to an August 2024 theft of over $55 million in DAI. The plaintiff claims that after falling victim to 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 court documents, Coinbase confirmed in early December 2024 that it had frozen the relevant funds pending investigation. However, to date, the funds have not been returned, and Coinbase has stated it will only release the assets upon a court order. (Decrypt)