Coinbase Ireland Fined €3.25M After Customer Fund Safeguard Lapses

Ireland’s central bank has fined Coinbase Ireland €3.25 million after finding that the company failed to properly protect customer funds over several years. Errors in its systems left a designated customer-funds account short by as much as €5.2 million in 2024. Coinbase says no customers lost money or access to their funds, and the problems have been resolved. Coinbase Ireland has been fined €3.25 million ($3.65 million) after regulators discovered that the company’s systems repeatedly failed to set aside enough money to protect customer deposits. The problems stretched across several years, with daily shortfalls reaching €5.2 million in 2024.