‘Locked-Out’ Users Sue Coinbase For North of USD 5M

Source: A screenshot, Instagram, Coinbase

Six Coinbase users are taking the crypto exchange giant to court to seek more than USD 5m in compensation for themselves and other users who were allegedly locked out of their accounts for several months or longer at a time.

According to a complaint filed on Friday in San Francisco, USA, federal court, and first reported by Decrypt, the plaintiffs – Michael Leone, Joseph Treseder, Travis Reece, David Beavers, Fazal Us Saboor Ali, and Keisha Pinkney – accuse the exchange of preventing them from accessing their accounts for arbitrary reasons and prolonged amounts of time, as they have been unable to “invest, spend, save, earn, and use or even withdraw their funds” from the platform.

The exchange violated its “duty to provide access to the Coinbase platform to conduct authorized transactions,” they claim.

Therefore, they seek “any and all available relief, including equitable relief and recovery of damages caused by Defendants’ actions,” said the document, adding that “the amount placed in controversy by the Complaint exceeds, in the aggregate, USD 5

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