![]() “There were no procedures in place to stop these frauds,” Rosen said. “They’re trying to be a financial institution without the infrastructure to back it up,” said Eric Rosen, a lawyer at Roche Freedman representing some 96 victims in the arbitration demand, which is akin to a lawsuit, filed against Coinbase. ![]() The requests were to no avail, scam victims say. Scam victims says they notified the company, begging it to fix defects in its Coinbase Wallet software that had allowed the victims unknowingly to grant the scammers access to their accounts. Nearly 100 people are trying to hold Coinbase accountable, saying the company didn’t do enough to protect them. Over the past year, thousands of people have lost tens, if not hundreds, of millions in cryptocurrency when gangs of sophisticated scammers whisked their money out of their accounts, which are managed by an app from the publicly traded cryptocurrency giant Coinbase. ![]()
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