TechFlow News, May 6: According to a Cointelegraph report, Coinbase has been sued in the U.S. federal court for the Central District of California over frozen funds linked to a $55 million DAI phishing theft that occurred in 2024. Plaintiffs allege that portions of the traceable stolen funds were laundered through Tornado Cash and subsequently deposited into Coinbase retail user accounts, where they remain frozen.
Coinbase stated that it can only release the assets after a court first determines their rightful ownership. The complaint also links the theft to the malicious wallet drainer platform Inferno Drainer. Victims had engaged Zero Shadow and Five Stones Intelligence to track the stolen funds’ movement.
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