Ari Paul, founder of blockchain investment firm BlockTower Capital, claimed via X this morning that Coinbase had previously concealed hundreds of millions of dollars in hacking damages and failed to return client funds. He stated that Coinbase had reported $25 million (approximately 33 billion won) of its own funds as lost several years ago, but an investigation revealed this was a measure to conceal repeated large-scale hacking incidents. He added that through tracking, at least 12 or more affected companies were identified, and the total concealed damage exceeded $1 billion (approximately 1.34 trillion won). He explained that multiple legal lawsuits are currently underway, and he cannot disclose further details.
