Coinbase faces at least six class action lawsuits in May 2025 over a data breach that exposed 69,461 users, highlighting vulnerabilities in its security practices. Coinbase, the largest U.S. cryptocurrency exchange, was hit with multiple class action lawsuits in May 2025 following a data breach that exposed 69,000 users, sparking outrage and legal action over alleged security failures. The exchange refused to pay the $20 million ransom and has flagged plans to reimburse users tricked into sending crypto to phishing scammers, with estimated expenses ranging from $180 million to $400 million, per a filing with the U.S. Securities and Exchange Commission.