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A California federal court is weighing a civil claim that challenges Coinbase Global’s handling of frozen digital assets tied to a $55 million DAI phishing theft in August 2024.
The suit seeks to establish a judicial precedent for court-ordered release of stolen crypto assets from exchanges.
KEY POINTS
- The theft exploited DeFi Saver via phishing and utilized Inferno Drainer, a scam-as-a-service tool.
- Forensic firms traced the laundered DAI to a Coinbase retail account linked to a Ukrainian national.
- Coinbase froze the traced funds but stated a court order is necessary for their release to claimants.
- This case could influence how exchanges globally handle custody, asset freezes, and cross-border asset recovery.
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