Ah, the illustrious world of cryptocurrency! Where fortunes are made and lost faster than you can say “blockchain.” In a rather riveting turn of events, an Illinois judge has decided to hit the pause button on the ongoing legal tango involving our dear friends at Coinbase. Yes, you heard it right! A stay has been granted while we all hold our breath for a ruling from the appellate court. 🎭
In a Thursday filing that could only be described as a legal soap opera, Judge Sharon Johnson Coleman has graciously granted Coinbase’s request to put the lawsuit on ice. This delightful little drama revolves around alleged violations of the state’s Biometric Information Privacy Act. Who knew biometric data could be so scandalous? 😏
The motion, as it were, was a plea to await the wisdom of the US Court of Appeals for the Seventh Circuit. They’re currently mulling over a case involving Nuance Communications and their rather cheeky voice identification technology for Charles Schwab. One can only imagine the implications this could have on our beloved Coinbase lawsuit. Talk about a cliffhanger! 📜
“[T]he Court finds that the stay would simplify the issues and streamline the trial […] reduce the burden of litigation on the Court and the parties […] [and] would not unduly prejudice or tactically disadvantage Plaintiffs,” the judge’s filing declared, as if she were casting a spell to make all the legal woes disappear. 🪄
Now, let’s not forget the juicy details of the lawsuit itself, filed back in May. It alleges that Coinbase has been engaging in a rather “wholesale collection” of faceprints for its Know Your Customer (KYC) requirements, all while users were blissfully unaware. The audacity! The plaintiffs claim that their biometric data was shared with third-party verification providers without so much as a “by your leave.” How terribly rude! 😱
Under the watchful eye of Illinois’ Biometric Information Privacy Act, those naughty private entities that dare to violate the law in a “reckless” or “intentional” manner could be facing damages up to a staggering $5,000 for each instance. And let’s not forget the $1,000 for each negligent violation. The plaintiffs are also angling for relief from their litigation expenses. Because who doesn’t love a good legal bill? 💸
Major Coinbase Data Breach
In a plot twist worthy of a Shakespearean tragedy, Coinbase revealed in May that a band of customer support contractors had been accessing account data for users in exchange for bribes. Yes, bribes! The contractors, hailing from India, were promptly shown the door. 🚪
These charming individuals attempted to extort a cool $20 million worth of Bitcoin (BTC) from Coinbase, which the company, in a fit of moral fortitude, refused. However, this little escapade has led to a flurry of lawsuits alleging that Coinbase has been rather careless with personal data. Oh, the drama! 🎬
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2025-08-23 01:10