Ari Paul says Coinbase covered up more than 1000000000 USD in hacker losses
BIBIBI
AT A GLANCE
Ari Paul alleged that Coinbase covered up multiple hacker attacks, involving more than 1000000000 USD, with at least more than a dozen institutions affected.
Article
Coinbase Accused of covering up more than 1000000000 USD in losses from hacker attacks, with at least more than a dozen institutions affected
BlockBeats reported that September 29, the crypto hedge fund BlockTower Capital's founder and CIO Ari Paul stated that several years ago Coinbase“lost” approximately 25000000 USD, but later discovered that this was actually covering up multiple large-scale hacker attacks, and the funds have still not been returned. Ari Paul also stated that at least more than a dozen affected institutions had been traced, with the covered-up amount exceeding 1000000000 USD, but he could not disclose more because multiple legal proceedings are still ongoing.
Original link https://m.theblockbeats.info/flash/369483
Key points
01
September 29, BlockBeats relayed Ari Paul's allegations regarding Coinbase.
02
Ari Paul is the founder and BlockTower Capital of the crypto hedge fund CIO。
03
Ari Paul said that several years ago Coinbase“lost”BlockTower Capital approximately 25000000 USD, which has still not been returned.
04
Ari Paul said that they later discovered that Coinbase was covering up multiple large-scale hacker attacks.
05
Ari Paul said that at least more than a dozen institutions were affected, with the covered-up amount exceeding 1000000000 USD。
06
Ari Paul said that because multiple legal proceedings are still ongoing, he cannot disclose more information.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a serious allegation made by Ari Paul and relayed by BlockBeats: he claims that Coinbase covered up multiple hacker attacks by presenting them as “lost funds,” and said that multiple institutions and substantial sums were involved. The available text provides only his account and no verifiable evidence or response from the other party; therefore, the allegation cannot be treated as an established fact.
Why it matters to readers
If these allegations are subsequently substantiated, they could involve customer asset security, platform disclosures, and funds that have not yet been returned; however, the current evidence is insufficient to establish that Coinbase actually engaged in a cover-up or to confirm the scale of the losses.
Beginners should treat this content as an unverified allegation of a security incident, avoid making funding or trading decisions based solely on the headline or a single party’s account, and monitor subsequent verifiable materials.
Risks and unknowns
The text does not provide Coinbase's response.
The text provides no court documents, regulatory materials, or other independent evidence.
more than 1000000000 USD approximately 25000000 USD and figures such as at least more than a dozen institutions all come from Ari Paul’s account and cannot yet be independently confirmed.
The specific list of affected institutions and the number and details of the hacker attacks were not disclosed.
Related Developments
Loading event timeline…
The specific content and outcome of the related legal proceedings are unknown.
Related concepts
Crypto hedge fund
This term is not in the glossary yet. Browse related concepts in the glossary.
