Yankton man sues brokerage over $1M cryptocurrency theft
Hackers used stolen personal information to dupe man into moving digital money
A Yankton County man has filed suit against a global cryptocurrency exchange, accusing it of allowing hackers to steal $1 million in digital money.
Michael Lemon argues that had the theft not occurred, the cryptocurrency he held with Coinbase Global would now be worth $1.5 million. Coinbase faces waves of litigation that are being consolidated in New York following the reporting of two hackings involving many of its customers.
According to the lawsuit, Coinbase had 8.4 million transaction users worldwide and reported $6.3 billion in revenue in 2024.
