Coinbase Breach Hit Almost 70k Users — Attorneys

In a recent filling, new light was shed on the Coinbase’s data breach case where it claimed that nearly 70,000 users were impacted and that the incident went unnoticed for nearly six months.

69,461 Coinbase users were compromised by the breach, 217 of whom are residents of the US state of Maine, according to the filing submitted by legal firm Latham and Watkins LLP. 

Nearly six months following the incident, it was found that the breach had occurred on Dec. 26, 2024.

The victims of the breach are now arguing that the exchange failed to notify victims of the security breach in a timely manner.

Cointelegraph contacted Coinbase for comment but did not receive a response at the time of publication.

VanEck to launch Avalanche ecosystem fund

A private digital asset fund is being planned to be launched by VanEck in June, and it targets the tokenized Web3 projects built on the Avalanche blockchain network, the asset manager said in a statement shared with Cointelegraph.

The VanEck PurposeBuilt Fund is available only to accredited investors and it aims at investing in liquid tokens and venture-backed projects across Web3 sectors. 

VanEck said that Idle capital will be deployed into Avalanche AVAX $25.01 real-world asset (RWA) products, including tokenized money market funds.

According to Cointelegraph, the fund will be managed by the team behind VanEck’s Digital Assets Alpha Fund (DAAF), which oversees more than $100 million in net assets as of May 21. 

“The next wave of value in crypto will come from real businesses, not more infrastructure,” Pranav Kanade, portfolio manager for DAAF, said in a statement.