Coinbase is facing another data breach lawsuit, seeking compensation for stock decline losses

According to ChainCatcher news reported by Cointelegraph, cryptocurrency exchange Coinbase and its executives have been hit with a class-action lawsuit by investor Brady Nessler due to a data breach incident and undisclosed regulatory violations in the UK. The lawsuit states that the data breach in May caused a 7.2% drop in stock price in a single day, while a $4.5 million fine in July 2024 for violating UK FCA agreements also caused stock price fluctuations. Coinbase previously disclosed that internal personnel were bribed to leak user data, potentially resulting in a $400 million loss.

This is the first class-action lawsuit seeking compensation for the decline in Coinbase's stock price, covering stock buyers from April 2021 to May 2025. The lawsuit accuses the company of failing to timely disclose regulatory violation information, allegedly inflating the stock price. Coinbase has not yet commented. The platform has previously faced multiple lawsuits due to data breaches, including allegations of mishandling user biometric data.