As hacking incidents continue to increase in the cryptocurrency market, the market was recently shaken by the Bitget hack.
While losses exceeding $350 million are reported, various other explanations are emerging regarding the Bitget hack.
At this point, a notable statement came from Ari Paul, founder of the crypto investment company BlockTower Capital, who claimed that Coinbase concealed losses exceeding $1 billion due to hacker attacks.
$1 Billion Allegation Involving Coinbase!
Ari Paul, founder of BlockTower Capital, claimed in a post on X that Coinbase has concealed losses related to numerous cyberattacks in the past and has failed to return customer funds.
The well-known figure stated that Coinbase lost approximately $25 million in funds belonging to BlockTower several years ago, and that a subsequent investigation concluded this was intended to cover up repeated large-scale cyberattacks.
Paul added that monitoring efforts have identified at least 12 affected companies and that total concealed losses exceed $1 billion. He also stated that he could not provide further details due to numerous ongoing legal proceedings.
Paul also stated that the investigation revealed at least 12 companies were affected, and the total amount of concealed losses exceeded $1 billion. He added that multiple legal cases are currently ongoing and he could not disclose further details.
Coinbase Support responded to this post by stating that they had sent a DM to investigate the matter. However, the platform has not made any further public statement.
*This is not investment advice.
