@dburgos777
In a nutshell: Coinbase faces class-action lawsuit for allegedly hiding hack.
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Trouble brewing in the crypto world.
Coinbase (NASDAQ:COIN) is facing a class-action lawsuit after belatedly disclosing a nasty hack in December where cybercriminals bribed employees and stole customer data.
The lawsuit, filed in Pennsylvania, accuses Coinbase of concealing not only the cyberattack but also its subsidiary CB Payments' breach of an agreement with the UK's Financial Conduct Authority since 2020.
Basically, transparency hasn't been their strong suit lately. CEO Brian Armstrong and CFO Alesia Haas are also under scrutiny.
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