# Coinbase Denies Hiding Hacks After $25 Million BlockTower Claim By Simon Yoon Canonical URL: https://www.tokenpost.com/news/technology/25897 Published: 2026-09-30T16:02:45.000Z Updated: 2026-09-30T16:02:45.000Z Section: Technology > BlockTower founder Ari Paul alleged losses involving at least 12 firms exceeded $1 billion. Coinbase denied hiding hacks or losing $1 billion. Coinbase faces allegations that it concealed repeated hacks after BlockTower Capital founder Ari Paul claimed the exchange lost $25 million belonging to his firm and that related losses exceeded $1 billion. Paul alleged Sept. 28 that the loss occurred several years ago and that his team traced the alleged problem to at least 12 other firms. He did not publicly identify those firms or provide supporting documents. Coinbase denied hiding a series of hacks and losing $1 billion. The company has not publicly addressed Paul’s specific claim about BlockTower’s funds. The allegations follow a separate dispute involving a trader using the account name “kuno.” The trader alleged Sept. 26 that Coinbase had taken or failed to return $1.2 million and said they had opened more than 30 support tickets. Jordan “Cobie” Fish said he could not find an account matching the trader’s description. Fish later said Coinbase had received no response to outreach for more than six months. Coinbase disclosed a separate 2025 incident involving overseas contractors or employees who improperly accessed customer information after being paid by criminals. The exposed data included names, contact details, masked bank information, government-ID images, balance snapshots and transaction history. In a May 15, 2025 Form 8-K, Coinbase disclosed that the incident did not compromise passwords or private keys and that the personnel involved could not access customer funds. The filing estimated remediation and voluntary reimbursement expenses at approximately $180 million to $400 million. The attackers demanded $20 million, but Coinbase did not pay. The company instead announced a $20 million reward fund. The 2025 incident involved customer-data theft and attempted extortion. Coinbase’s disclosure did not link it to Paul’s alleged loss or his claims about concealed hacks. The dispute continues a [previous account of Paul’s BlockTower allegations](), while the specific loss claim and the broader allegations remain contested. ## Links in this article - [previous account of Paul’s BlockTower allegations](https://www.tokenpost.com/news/technology/25195)