News Summary

• Coinbase was sued in California federal court over frozen crypto allegedly tied to a $55 million DAI phishing theft from August 2024.
• The Puerto Rico-based plaintiff is asking the court to declare him the rightful owner of the frozen assets and order Coinbase to return them.
• The lawsuit questions the responsibility of cryptocurrency exchanges in handling stolen funds that were traceably sent to these platforms after an exploit.
• The year 2024 was a breakout year for scam-as-a-service tools, with usage of Inferno Drainer tripling in the first half of the year.