This class action lawsuit centers around a feature offered to Coinbase users, which allowed them to send bitcoin to an email address instead of a crypto “wallet.” Thousands of individuals received emails informing them that a Coinbase user had sent them some bitcoin. Unfortunately, until 2017 most people had no idea what a “bitcoin” was. As a result, much of this bitcoin went unclaimed. But instead of transferring custody to the intended recipient, or returning it to the sender, Coinbase kept the bitcoin for itself.
The case is brought on behalf of “All persons and entities who were sent Cryptocurrencies such as Bitcoin, Ethereum and Litecoin through Coinbase.com to their email address, and who never received such Cryptocurrency.” It seeks to recover the unclaimed crypto, and transfer custody to its rightful owners.
On November 29, 2018, the Honorable Judge Donato denied Coinbase’s attempt to dismiss the case. The lawsuit is now proceeding to discovery.
Did you send bitcoin via email that was never claimed? Or were you unable to claim the bitcoin sent to you? If so, please reach out to The Restis Law Firm. We continue to investigate the facts, and your insight could help strengthen the case for the benefit of the proposed class.