Coinbase hit with wave of lawsuits over customer data breaches

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The story "Coinbase hit with wave of lawsuits over customer data breaches" was covered 11 hours ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 11h ago

Coinbase hit with wave of lawsuits over customer data breaches - Coin Telegraph

Quick Summary:

In one of the lawsuits, filed in a New York federal court on May 16, plaintiff Paul Bender argued that Coinbase failed to protect the sensitive personal information of millions of users during the data breach. Users are suing Coinbase, alleging the exchange failed to protect their sensitive data.

Bender claimed that “Coinbase failed to implement and maintain reasonable security safeguards,” which exposed users to “serious and ongoing risks.”The suit also claimed Coinbase’s response to the incident was “inadequate, fragmented, and delayed.”“Users were not promptly or fully informed of the compromise, and Coinbase did not immediately take meaningful steps to mitigate further harm, provide identity protection services, or offer actionable guidance to affected individuals,” the complaint claimed.

At least six lawsuits were filed against Coinbase between May 15 and May 16, which all made various claims that the exchange failed to keep stringent security protocols to protect user data and handled the data breach aftermath poorly.