Coinbase Secures Arbitration Win in Cryptocurrency Theft Case

Coinbase Global Inc. can arbitrate a proposed class action claiming the company’s poor data security practices led to the theft of cryptocurrency from dozens of customers’ accounts, a Georgia federal judge ruled Thursday.

The plaintiffs failed on all fronts to prove they weren’t bound by Coinbase’s user agreements that included a mandatory arbitration clause, ruled Judge Thomas W. Thrash, Jr. of the US District Court for the Northern District of Georgia.

The ruling adds to Coinbase’s recent legal successes. The US Supreme Court last month sided with the company in a different dispute over arbitration, finding that companies are ...