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Crypto Regulation

Coinbase Denies Covering Up Hacks as Traders Claim Heavy Losses

Coinbase is denying allegations that it concealed a series of hacks, after a trader filed a $1.2 million complaint and the exchange’s Cobie issued a public reply. BlockTower’s founder also made unproven claims about the incidents, putting Coinbase’s customer support under scrutiny. The exchange says it did not hide the hacks.

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AI take

The dispute shifts from a technical security question to a credibility test for Coinbase's incident disclosure and support channels, which matters most for traders who rely on the exchange's account protections. The involvement of a well-known fund founder raises the stakes, though the claims remain unproven and the exchange's denial is on record. What is worth watching is whether the complaint produces documentation that clarifies the timeline of disclosures, and whether similar accounts surface.

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