US Supreme Court Takes Coinbase Account-Holder lawsuit

December 10, 2022

Story: Mohd Javed

The U.S. Supreme Court agreed to hear Coinbase bid to halt lawsuits the company contends belong in private arbitration, including one by a user suing after a scammer stole from his account.

Coinbase is seeking to have two customer lawsuits against the company resolved by private arbitration, not by a federal court.

“We are gratified the Supreme Court agreed to hear our appeal, and we look forward to its resolution of this matter,” a Coinbase spokesperson said.

In its lawsuit, Coinbase has raised procedural question that are important in arbitration cases.

The crypto firm is battling claims by Abraham Bielski, who says Coinbase should compensate him for $31,000 he lost after he gave a scammer remote access to his account.

But the case might be the first taken by the Supreme Court involving a cryptocurrency company.

“It’s the first one I’ve known of, for sure,” said Glenn Chappell, an attorney for Abraham Bielski, one of the Coinbase customers who is suing the company.