Coinbase Inc. lost a private arbitration complaint with damages and costs totaling $618,000 to a client who claimed to lose funds after a 2024 cyber-attack.

The complaint of Ashok Maini versus Coinbase Inc. was heard in private arbitration in the forum of the American Arbitration Association, commonly referred to as Triple A arbitration in the industry.

Arbitration complaints involving cryptocurrencies are outside the purview of FINRA Dispute Resolution because digital assets are not legally deemed to be securities.

Coinbase is a subsidiary of Coinbase Global Inc., a leading exchange for crypto assets.