Coinbase, Exchanges

Does Coinbase Steal Money?

Coinbase, one of the world’s most popular cryptocurrency exchanges, has been accused of stealing money from its users. The accusations come from a class action lAWSuit filed in California on December 14, 2017.

The lAWSuit alleges that Coinbase “knowingly and intentionally misappropriated” funds from its users by converting their cryptocurrency into US dollars without their consent or knowledge.

The lAWSuit specifically names Coinbase CEO Brian Armstrong and President Asiff Hirji as defendants. It is seeking damages in excess of $5 million for the alleged theft.

NOTE: Warning: There is no evidence that Coinbase, an online cryptocurrency exchange, steals money from its users. However, users should exercise caution when using Coinbase as some users have reported cases of unauthorized transactions and account security issues. It is important to be aware of the risks associated with any financial service and to take steps to protect your personal and financial information.

This is not the first time that Coinbase has been accused of stealing money from its users. In 2016, the exchange was accused of “double spending” Ethereum Classic (ETC) coins.

Coinbase denied the accusations and claimed that the coins were not stolen, but were instead “accidentally” sent to two different addresses.

The current lAWSuit against Coinbase is much more serious, however, as it alleges that the exchange deliberately misappropriated funds. If proven true, this could have major implications for the cryptocurrency industry as a whole.

It remains to be seen how this lAWSuit will play out, but it is certainly one to watch closely.

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