On March 7, Bloomberg reported that Coinbase had refused to accept responsibility or refund a hacking victim. The company responded to an account holder who lost $96,000 last year in a court filing on Monday, March 6.

According to the victim, Jared Ferguson from New York, the company emailed him stating it was his fault, not theirs:

“Please note you are solely responsible for the security of your e-mail, your passwords, your 2FA codes, and your devices,”

Ferguson sued Coinbase over losses resulting from a security breach in May 2022. “Coinbase’s email disclaimed any responsibility for the hacking of its customers’ accounts,” he stated.

The victim claims he received an SMS message from his mobile carrier regarding a SIM card change request he didn’t make. When he restored service to his device the following day, he discovered that his Coinbase account had been drained. Furthermore, it contained almost his entire life savings.

(By Martin Young)