Coinbase is facing a wave of lawsuits after revealing a leak of user data, with accusations of mismanagement of the situation, Cointelegraph reported on Monday.
Between May 15 and May 16, at least six lawsuits were filed, alleging that the platform lacked stringent security measures to protect user information and mismanaged the fallout from the leak.
One of the lawsuits, filed in a New York federal court on May 16 by Paul Bender, claimed Coinbase failed to safeguard the personal data of millions of people during the breach.
A few days earlier, the company had suffered a $20 million extortion attempt when cybercriminals bribed customer service agents to access internal systems and steal limited user data such as names, addresses, phone numbers, emails, partial Social Security numbers, some bank details and account data such as balance snapshots and transaction history.