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Coinbase Faces Lawsuit Over Frozen $55M DAI
Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
A crypto whale called D.B. has taken Coinbase to court after the exchange froze around 55 million dollars in DAI linked to a 2024 phishing attack that emptied the victim’s wallet. The plaintiff says they have proven ownership, but Coinbase has not released the funds, insisting on a court order before doing so. Coinbase states the freeze follows its standard security and compliance process while the dispute is resolved. The case raises key questions about control of disputed crypto assets.
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