Ari Paul says Coinbase lost his $25M, covered up $1B in hacks

What happened

Turned out they were actually covering up massive and repeated hacks. Two executives left the company in 2022 and 2023 for mysterious reasons, while the company also shuttered its $100 million Market-Neutral Fund in 2023.

Coinbase refused to comment on specific clients. Coinbase allegations made against Cobie Paul was responding to a series of posts shared by Cobie, a prominent crypto investor who became a glorified customer support representative for Coinbase. Coinbase is a cryptocurrency exchange and Bitcoin company based in San Francisco.

Cobie was pointing out to X user “Kuno” that they’d been ignoring the crypto exchange’s attempts to reach out to them. Kuno, on the other hand, claimed they repeatedly approached Coinbase over $1.2 million it had allegedly stolen .