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Coinbase Sued For $5M Over Misleading Dogecoin Campaign

Published 07/20/2021, 08:29 AM
Updated 07/20/2021, 08:30 AM
Coinbase Sued For $5M Over Misleading Dogecoin Campaign

  • Coinbase faces legal charges for an allegedly misleading ad campaign.
  • The ad was for a $1.2 million sweepstakes Dogecoin offer on the platform.
  • Damages could be more than $5 million in compensation.

Coinbase is currently facing a class-action lawsuit from one of its users. The lawsuit is seeking $5 million in damages. Coinbase is accused of cheating millions of its users into buying Dogecoin for one of its Dogecoin campaigns.

In detail, a Coinbase user — David Suski, says that the exchange is guilty of deceiving its users into trading $100 of Dogecoin (DOGE). Specifically, he is referring to a $1.2 million sweepstakes offer on Coinbase.

In particular, the document for the sweepstakes allegedly fails to mention an important fact. This was that a user could enter the sweepstakes without having to purchase $100 worth of DOGE. We can trace ...

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