U.S. Supreme Court justices on Tuesday appeared divided over a bid by cryptocurrency exchange Coinbase Global Inc to halt customer lawsuits, including by a user who sued after a scammer stole money from his account, as it pursues an effort to move the disputes out of courts and into private arbitration.
to halt customer lawsuits, including by a user who sued after a scammer stole money from his account, as it pursues an effort to move the disputes out of courts and into private arbitration.
During arguments, some justices expressed doubt over Coinbase's arguments while others raised concerns about the consequences for defendants seeking to arbitrate customer claims. Conservative Justice Brett Kavanaugh raised the problem of defendants settling cases to avoid the burden of litigation. One of the cases involves a California lawsuit by customer Abraham Bielski, who alleged that a scammer stole more than $30,000 from his Coinbase account in 2021. The suit accused the company of violating the Electronic Funds Transfer Act by not investigating or recrediting Bielski's account.
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