Ari Paul Accuses Coinbase of Losing $25 Million and Covering Up Hacks

BlockTower Capital founder Ari Paul has alleged that Coinbase lost $25 million of his firm's funds and covered up over $1 billion in repeated hacks. Paul claims at least a dozen firms were affected and that Coinbase has refused to return the funds. He stated that legal processes are ongoing. The allegations follow a public exchange involving crypto investor Cobie and a user named Kuno regarding a separate $1.2 million dispute. Coinbase was also previously sued in May for allegedly withholding $55 million in crypto stolen during an August 2024 draining hack.