Coinbase is confronting two separate account-related disputes that became public on September 12: an unverified claim that a $1.3 million USDC compliance freeze contributed to a Hyperliquid liquidation, and a Dutch pre-litigation demand for €170,874.18 following an alleged 2024 account takeover.
In the first case, a Coinbase user alleged in a Reddit post titled How I lost $1.3M on Coinbase that $1.3 million in USDC became inaccessible shortly after deposit. The trader said the account had been inactive for several years before receiving the stablecoin, and the funds were intended to be withdrawn over Arbitrum to supply collateral for a leveraged Hyperliquid position. Coinbase allegedly restricted the account and requested documentation; despite submission, the restriction reportedly remained after 16 hours, by which time the Hyperliquid position had been liquidated. The user said funds stayed inaccessible and support stopped responding. Coinbase has not confirmed the events, and records have not been independently verified. Coinbase's support documentation notes accounts can be restricted for security, compliance, and operational reasons, with some reviews taking 10 business days or longer.
In the second matter, a customer issued a formal notice of default in the Netherlands demanding €170,874.18, giving Coinbase 14 calendar days to pay or commit to payment before possible service of a writ of summons. The claimant alleges a January 27, 2024 cyberattack on a consumer account involving session-cookie hijacking, causing €53,674.95 in fiat to leave Coinbase in four transactions over less than two minutes. Coinbase reportedly rejected liability on July 4, 2024, attributing the incident to compromised customer credentials. The demand relies on Dutch payment-services rules, including Articles 7:522, 7:527, 7:528, and 7:529 of the Dutch Civil Code, and argues that Coinbase failed to respond to a sudden geographical change, rapid high-value transfers, or apply transaction-linked Strong Customer Authentication. The claim also includes €106,397.02 in alleged missed portfolio profits tied to 1.40402148 BTC and 12,031.26215895 DOGE, valued at a claimed peak on October 6, 2025, plus €9,990.91 in statutory interest.
The disputes remain unresolved and unproven. If substantiated, the first could illustrate how centralized exchange compliance reviews can interrupt urgent collateral transfers to decentralized trading platforms. The second could force scrutiny of Coinbase's authentication, transaction monitoring, and handling of unauthorized payment claims under European law. For now, neither matter has produced a confirmed court filing or verified evidence of wider withdrawal failures.
