Coinbase at court again

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A case in the U.S. District court for the Southern District of Florida has been reopened involving Coinbase and the already dead exchange Cryptsy. 

Cryptsy is a cryptocurrency exchange owned by Coinbase which got sued by a former customer claiming that Coinbase should have prevented the laundering of funds. This happened after Cryptsy alleged that it was the target of a hack in July 2014. This “incident” cost around 13k BTC(7.5m at the time) and 300k LTC(2.08m at the time) coins. And only months after the hack claims and withdrawal problems, came the acknowledgment of insolvency. 

Now judge Kenneth Marra has reopened this case following by two other appellate courts who subsequently sided against Coinbase. 

“Prior to filing this Motion, the undersigned counsel conferred with Defendant’s counsel, and has been authorized to represent that Defendant does not oppose the relief sought herein,” the case reopening document states.

Source:

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