Coinbase Faces Lawsuit Over Frozen Crypto Assets

A lawsuit has been filed against Coinbase by a cryptocurrency whale, D.B., over the exchange's decision to freeze $55 million in DAI. The funds are linked to a phishing attack that occurred in 2024 and emptied the victim's wallet.

The plaintiff claims they have provided proof of ownership, but Coinbase is insisting on a court order before releasing the frozen assets. This has raised questions about control of disputed crypto assets and the measures exchanges take to handle such situations.