Coinbase Faces Class Action Over Hacked Account Response

By Emilie Ruscoe (August 25, 2022, 5:07 PM EDT) — Cryptocurrency exchange platform Coinbase Inc. is facing a proposed class action claiming the company fails to prevent its users from being “fleeced by hackers.”

In a complaint filed Tuesday in California federal court, Coinbase customer Manish Aggarwal claimed that more than $200,000 of his family’s savings had disappeared from his Coinbase account after hackers took control of the account “through no fault of his own.”

Aggarwal alleges he tried to alert the company, but was routed to an automated complaint processing system that he described as “a recursive loop of impenetrable screens that prevented him from explaining his situation to any…

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