Coinbase has been hit with a proposed class action lawsuit claiming the San Francisco-based digital currency exchange has unlawfully held onto some unclaimed cryptocurrency that account holders have routed to others’ email addresses.

The lawsuit, filed March 2 in the U.S. District Court for the Northern District of California by San Diego lawyer William Restis, claims that Coinbase, which allows its account holders to send cryptocurrencies to a recipient’s email address, has violated California’s Unclaimed Property Law by failing to deliver cryptocurrencies to some people who didn’t already have Coinbase accounts.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]