BlockTower founder claims $25M was lost at Coinbase, says 10+ firms were also hit

Ari Paul, founder of crypto investment firm BlockTower Capital, said $25 million in company funds previously held at Coinbase disappeared, according to The Crypto Basic. In a post on X, Paul said Coinbase initially told the firm the funds had been “lost.” After conducting its own investigation, Paul said BlockTower came to suspect repeated large-scale hacks had occurred and that Coinbase may have concealed related facts. Paul also claimed he identified at least 10 similar cases involving other firms, with total losses exceeding $1 billion.

Source: Coinness