COIN Investors with Losses Encouraged to Contact Hagens Berman
A Material Cybersecurity Incident Raises Concerns
Coinbase's share price plummeted as the company disclosed a serious cyber threat involving a threat actor that obtained access to nearly 70,000 customers' personal information. The company reported receiving an email from an unknown threat actor claiming to possess customer account information and internal documentation. The actor allegedly obtained this data by paying contractors or employees to extract it 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. However, the news raised concerns about the adequacy of Coinbase's security controls and disclosure processes.
Reed Kathrein Discusses the Investigation
"We're investigating whether Coinbase may have misrepresented its security controls and delayed disclosing this serious cybersecurity incident," said Reed Kathrein, the Hagens Berman partner leading the investigation. "If you invested in Coinbase and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now."
Whistleblowers Encouraged to Come Forward
Persons with non-public information regarding Coinbase are encouraged to consider their options to help in the investigation or take advantage of the SEC Whistleblower program. 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 Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. With over $2.9 billion in secured verdicts, Hagens Berman's team has established a reputation for fighting for justice.
Contact Information
For more information and answers to frequently asked questions about the Coinbase investigation, visit: www.hbsslaw.com/investor-fraud/coin
Contact the Firm Now:
- COIN@hbsslaw.com
- 844-916-0895