Court in São Paulo Orders Coinbase to Refund Nearly $100,000 to Stolen User
Prefer us on GoogleA court in São Paulo, Brazil, has ordered Coinbase to refund nearly $100,000 to a user who claimed that funds deposited in their Coinbase Wallet disappeared in unauthorized transactions. Coinbase argued that the wallet's private key was entirely controlled by the user but failed to prove that the transaction was initiated by the wallet holder or that there were security measures in place to prevent such an outcome. The court ruled based on relevant provisions of the Consumer Protection Law, requiring Coinbase to return the full amount along with statutory interest.
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