Coinbase Faces Class Action Lawsuit Over Alleged Lapses in Security

Coinbase failed to properly secure customers’ accounts, leaving them vulnerable to theft and unauthorized transfers, a putative class action lawsuit filed against the crypto exchange last week alleges.

The complaint, filed in the U.S. District Court for the Northern District of Georgia, also accuses the company of causing financial harm to users by locking them out of their accounts permanently or for long periods of time, as well as violating federal law by listing securities on its trading platform.

Source: Coinbase Faces Class Action Lawsuit Over Alleged Lapses in Security