BlockTower's Ari Paul accuses Coinbase of covering up $25M loss and $1B hacks
Image: ProtosBlockTower Capital founder Ari Paul publicly accused Coinbase of losing roughly $25 million of his firm's funds and concealing the incident. Paul cited ongoing legal proceedings as the reason he could not share further details. As of the reports' publication, Coinbase had not issued a public statement on the allegations, and no independent verification of Paul's claims had emerged.
Key points
- BlockTower Capital founder Ari Paul publicly accused Coinbase of losing $25 million of his firm's funds.
- Paul claims the alleged loss is part of a broader cover-up of over $1 billion in hacks affecting more than a dozen institutions.
- Paul stated ongoing legal proceedings prevent him from sharing further details about the alleged incidents.
- As of the reports' publication, Coinbase had not issued a public statement responding to the allegations.
Why it matters
The unsubstantiated allegations raise potential concerns about security and transparency at a major crypto exchange for institutional clients. No independent verification of Paul's claims had been published as of the reports' release.
What's unclear
No independent verification of the alleged $25 million loss, $1 billion in covered-up hacks, or incident timeline had been published as of the reports' release
Coinbase had not issued any public statement responding to the allegations as of the reports' publication dates
Sources · 2 publishers
Protos
Tier 2
Ari Paul says Coinbase lost his $25M, covered up $1B in hacks
Coverage timeline
- First reported by Crypto Briefing
- Confirmed by Protos
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
