Coinbase Faces Lawsuit Over Frozen $55 Million in DAI
Crypto whale D.B. filed a lawsuit against Coinbase after the exchange froze approximately $55 million in DAI linked to a 2024 phishing attack that emptied D.B.'s wallet. The plaintiff seeks restitution on multiple counts including unjust enrichment, claiming to have proven ownership of the funds. Coinbase insists on obtaining a court order before releasing the frozen assets despite D.B.'s ownership claims.
Frozen DAI funds
▪Coinbase has not released the frozen DAI funds despite the plaintiff proving ownership.
▪Coinbase froze around $55 million in DAI linked to a 2024 phishing attack.
2024 phishing attack
▪The frozen $55 million in DAI is linked to a 2024 phishing attack.
▪A 2024 phishing attack emptied the victim's wallet.
Plaintiff ownership claims
▪D.B. has taken Coinbase to court over the frozen DAI funds.
▪The plaintiff D.B. has proven ownership of the frozen DAI funds.
▪Coinbase insists on a court order before releasing the frozen DAI funds.
Perspective of Plaintiff D.B.
▪D.B. claims Coinbase is withholding the frozen DAI funds despite D.B. proving ownership.
▪D.B. filed a lawsuit against Coinbase seeking restitution on multiple counts including unjust enrichment.
Perspective of Coinbase
▪Coinbase insists on a court order before releasing the frozen DAI funds.
Story comments
Loading comments…