Coinbase changed lawsuit rules a day before disclosing data breach, report
Coinbase has reportedly limited the number of class action lawsuits that can be brought against it, just one day after disclosing a major data breach that is now under investigation by the US government. As detailed by crypto journalist Molly White, the new agreement, announced on April 12, stipulates that as of May 15, no state other than New York can hold jurisdiction over a lawsuit unless the case involves arbitration, a.k.a. resolution outside of court. It also waives the rights of the user — and Coinbase itself — to a jury trial and prevents users from participating in, or initiating, a class action lawsuit against the firm. The timings of these changes and their announcement are curious, given that the exchange publicly disclosed on May 14 that cybercriminals had bribed rogue customer support agents to steal customer data and tried to blackmail it for $20 million in bitcoin . It would, of course, have known at the time of this disclosure that the class...