[BlockTower Founder: Coinbase Covered Up Over $1 Billion in Hacking Losses] BlockTower Capital founder Ari Paul stated on the X platform that Coinbase had covered up hundreds of millions of dollars in hacking losses in the past and did not return customer funds. Paul revealed that Coinbase 'lost' approximately $25 million of BlockTower's funds a few years ago, but subsequent investigations led him to believe that this was an attempt to conceal repeated large-scale hacking incidents. Paul also claimed that tracking efforts uncovered at least 12 companies affected, with total concealed losses exceeding $1 billion. He noted that multiple legal cases are currently underway, preventing him from disclosing further details.