Coinbase is facing another data breach lawsuit, seeking compensation for losses from the decline in stock price

According to reports, the cryptocurrency exchange Coinbase and its executives have been sued by investor Brady Nessler in a class action lawsuit for a data breach incident and failure to disclose regulatory violations in the UK. The complaint states that the data breach in May caused a 7.2% drop in stock price in a single day, and a $4.5 million fine in July 2024 for violating UK FCA regulations also triggered stock price fluctuations. Coinbase previously disclosed that internal personnel leaked user data, potentially causing a loss of $400 million. This is the first class action lawsuit claiming damages for the decline in Coinbase's stock, covering stock purchasers from April 2021 to May 2025. The lawsuit accuses the company of failing to timely disclose regulatory violation information, allegedly inflating the stock price. Coinbase has not commented on the matter. Previously, the platform faced multiple lawsuits due to data breaches, including allegations of mishandling user biometric data.