The plaintiff argues the crypto exchange violated state laws
Coinbase is being sued by a customer, who argues the exchange refused to help him.
The customer lost $96,000 from his wallet due to hack.
Jared Ferguson, lost “90% of his life savings” after his phone was hacked, the court filing said.
Ferguson lost service on May 9 and T-Mobile technical support told him to get a new SIM card.
After restoring service to his iPhone, Ferguson noticed that all the money had been taken from his Coinbase wallet.
He immediately contacted Coinbase, which asked him for information about the security of his device, the last authorised transaction and a list of unauthorised transactions.
Just over two weeks later, he was told Coinbase could not help him.
“Customers … are responsible for any activity that occurs when those devices or passwords are compromised,” Coinbase told Ferguson in an email, according to the court filing. It added, “Please note you are solely responsible for the security of your email, your passwords, your 2FA codes and your devices.”
Now, Ferguson has brought claims against Coinbase alleging the crypto exchange violated state laws by not crediting his account in full for his losses.
Ferguson alleges that Coinbase violated the Electronic Fund Transfer Act.
