BlockTower founder: Coinbase concealed over $1B in hack losses

The claim matters less for its dollar figure than for its target: a listed US exchange accused of hiding losses and withholding client funds, which goes to the core of custody trust rather than to any single hack. Because the allegation is aired publicly by a known fund founder and tied to ongoing litigation, it lands in a reputational and legal frame, not a technical one. What is worth watching is whether the firms Paul cites corroborate the account, and whether the cases produce findings that force disclosure — the gap between an X post and a court record is the whole story here.