Coinbase Investors May Have Been Damaged by Cybersecurity Incident

On May 15, 2025, investors in Coinbase Global, Inc. (NASDAQ: COIN) saw the price of their shares slide about 7%

SAN FRANCISCO , June 12, 2025 (GLOBE NEWSWIRE) -- On May 15, 2025, investors in Coinbase Global, Inc. (NASDAQ:COIN) saw the price of their shares slide about 7% after the company announced that it had encountered a material cybersecurity incident, raising questions about the adequacy of its internal controls and disclosure processes.

As such, and in accordance with Section 15(a) of the Securities Exchange Act of 1934, the law firm of Hagens Berman is investigating possible violations of federal securities law by Coinbase (COIN) and is encouraging investors who suffered substantial losses to submit their losses now. The firm is also interested in speaking with any persons who may have knowledge relevant to the investigation and urges them to contact Hagens Berman’s attorneys.

Coinbase Global, Inc. (COIN) Investors and Person with Knowledge Are Invited to Contact the Firm

The investigation centers on whether Coinbase adequately disclosed material information to investors.

Coinbase claims to have administrative, technical, and physical security measures and controls in place, maintain a robust information security program, and develop and implement sufficient cybersecurity risk management processes.

However, on May 15, 2025, the company disclosed a material cybersecurity incident in which a threat actor gained access to the personal information of nearly 70,000 customers. Coinbase reported receiving an email from an unknown threat actor who claimed to possess customer account information and internal documentation, allegedly obtained by paying contractors or employees to extract data from Coinbase's systems. The company stated that it had previously detected these unauthorized data accesses and estimated remediation and customer reimbursement costs could reach $400 million.

Then, on May 18, 2025, further questions arose regarding the timeliness of Coinbase’s disclosure of this serious cyber threat and adequacy of security controls as The Business Times reported that Coinbase rivals Binance and Kraken had been targeted by the same type of hack disclosed by Coinbase, but were able to fend off the attacks without losing customer data. Notably, BT reported that “last December, security personnel at several rival exchanges became aware of hackers targeting specifically large Coinbase holders ” and “[a]t least one exchange notified Coinbase’s security team through Telegram multiple times.”

“We are investigating whether Coinbase may have misrepresented its security controls and delayed disclosing this serious cybersecurity incident to investors,” said Hagens Berman partner Reed Kathrein, who is leading the investigation.

If you invested in Coinbase and have substantial losses, or if you have knowledge that may be helpful to the firm’s investigation, submit your losses now or contact W. Reed Kathrein at 844-916-0895 or email COIN@hbsslaw.com.

Those who prefer to submit their losses through mail can send them to:

Hagens Berman Tabbner Ungar, S.C.

Attention: W. Reed Kathrein

800 Union St., Suite 700

San Francisco, CA 94108

E-mail: COIN@hbsslaw.com

Phone: 844-916-0895

Investors in Coinbase are encouraged to visit the firm’s website for more information and answers to frequently asked questions about the investigation.

Those with non-public information regarding Coinbase may wish to consider their options for assistance with the investigation or to report the information to the SEC. The SEC has an active whistleblower program for which it may offer substantial rewards where it recovers proceeds of unlawful conduct. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.

About Hagens BermanHagens Berman is a global plaintiffs' rights legal firm. The firm's primary focus is on defending the interests of investors and workers in the U.S. federal and state courts, as well as in the arbitral, administrative and regulatory arenas. Its practice ranges from full-service class action litigation to advising and assisting classes of workers in collective bargaining and mass employment litigation, and its experience in both spheres spans decades.

The firm's attorneys have recovered billions of dollars for plaintiffs in cases involving cybersecurity breaches, environmental contamination, and unapproved medical devices, among other areas of law. A recognized leader in class action litigation, the firm has been ranked no. 1 in the Top 50 Class Action Law Firms in the U.S. by Law360 for six consecutive years, and in 2022, the firm achieved no. 1 ranking in the Top Class Action Settlement Firms category.

Hagens Berman is also recognized in the Class Action Law Journal’s “Best Law Firms' - Class Action Defense" and in Benchmark Litigation's "40 Best Class Action Law Firms."

For more information about the firm's successes and service, visit hbsslaw.com or follow