Coinbase Faces New Class Suit Over Unauthorized Asset Transfers

A new class action suit has been filed against Coinbase in the Georgia federal court, alleging the company engages in unauthorized asset transfers, freezes funds, and locks consumers out of their accounts for extended periods of time, causing consumers to incur significant losses due to the volatility of cryptocurrency. George Kattula, the lead plaintiff says he changed his passcode as asked in an email from Coinbase, and later, close to $6,000 worth of cryptocurrency was withdrawn from his account and transferred to unknown parties. Coinbase has not yet responded to comment on the matter.