12/09/19 10:00 UTC-4

Coinbase cryptocurrency exchange has settled a dispute with a client for $1.4 million

ExchangesCoinbase settled a $1.4 million dispute
Coinbase settled a $1.4 million dispute

The British branch of the Coinbase crypto-exchange settled a dispute with a client for $1.4 million. He sued the platform due to a phishing attack, during which he lost 80 BTC.


Coinbase and $1.4 million dispute

According to the Law360 portal, the British department of the Coinbase cryptocurrency exchange on August 30 agreed with a client Liam Robertson, who demanded to steal $1.48 million from the platform. The terms of the transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details
were not disclosed, but the plaintiff refused the claim.

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  • Hackers hacked Robertson's mail and gained access to his bitcoin. Further, the attackers transferred 60 BTC to the wallet of the Coinbase crypto-exchange. The remaining 20 tokens appeared on local exchanges
  • Coinbase froze Robertson's cryptocurrency by court orderOrder
    – automatic application to buy or sell cryptocurrency. Orders are used during trading on the stock exchange to open and close a position. Details
    . The plaintiff demanded that the exchange disclose the identity of the owner of the wallet and return the money to him
  • Robertson’s lawyer is confident that this precedent will help other victims of crypto-criminals get their money back
  • According to the CipherTrace analytic company, for 2 quarters of this year, hackers stole $480 million cryptocurrency from wallets of crypto-exchanges and users


Editor: Godfrid Brower

See also: "Coinbase exchange plans to launch IEO platform"

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