BlockTower founder Ari Paul: Coinbase once covered up a hacker attack exceeding 1 billion dollars

Ari Paul, founder and chief investment officer of the cryptocurrency asset management company BlockTower Capital, posted on X that Coinbase "lost" $25 million of its company's funds years ago, and it was later discovered that the other party was actually covering up large-scale and repeated hacking attacks, and the relevant funds have still not been returned.

Ari Paul stated that his team has tracked at least a dozen other affected institutions, with the concealed amount exceeding $1 billion. He mentioned that currently, they can only disclose this information because multiple legal proceedings are still ongoing.