Coinbase is at the center of a legal storm after revealing that user data was compromised in a recent cyberattack. Six lawsuits have been filed against the cryptocurrency exchange since May 15, with plaintiffs accusing Coinbase of inadequate security protocols and poor handling of the breach aftermath. These claims stem from unauthorized access to sensitive information like names, addresses, phone numbers, Social Security numbers, bank account details, driver’s licenses, and passport information. Plaintiffs allege that Coinbase failed to implement sufficient security measures, leaving them vulnerable to potential identity theft and financial fraud. Further legal action has been taken by several plaintiffs who demand compensation and increased protections for their data. Coinbase’s response to the breach has been scrutinized as well; some lawsuits claim their communication regarding the incident was inadequate and delayed. The exchange has also been grappling with an ongoing SEC probe over misreported user numbers in 2021, adding further strain. Coinbase has pledged to reimburse users who were tricked into sending cryptocurrency to fraudulent actors, but the legal battle continues as users seek greater security measures from the platform.