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Coinbase Allegedly Failed to Secure User Accounts, Faces Class Action LawsuitThe suit accused the company of violating the Electronic Funds Transfer Act by not investigating or recrediting Bielski's account. In the other. On December 13, , Plaintiff filed this class action against Coinbase on behalf of himself and on behalf of account holders in a cryptocurrency exchange. Cryptocurrency exchange Coinbase (COIN) has won dismissal of a class action lawsuit claiming the sale of unregistered securities.