Coinbase Hit With Lawsuit Over Hacked Cryptocurrency Account

Coinbase Inc. allegedly exposed the personal information and login credentials of a former digital asset account holder and failed to prevent hackers from stealing about $100,000 in assets, according to a federal lawsuit.

Ryan Dellone alleged that Coinbase failed to protect his personal information and failed to use the information it had collected about him and his interactions with the Coinbase system to detect obviously fraudulent attempts to gain access to his account.

Hackers broke into the account in December 2021, converted all of their assets into bitcoins, and transferred the bitcoins to their Coinbase accounts, according to a complaint presented on Tuesday...