According to CoinMeta, Blocktower Capital founder Ari Paul accuses Coinbase of losing $25 million from the company over the past few years and of concealing “significant and recurring hacking incidents” worth over $1 billion. Paul claims that at least a dozen companies were affected by this incident, and Coinbase has still not returned the funds. He stated that these are all the details he can disclose at present, as “multiple legal proceedings are still ongoing.” In addition, Coinbase is also being sued for allegedly concealing $55 million in cryptocurrency during a hacking incident in August 2024.