Coinbase Ireland Fined €3.25M After Customer Fund Safeguard Lapses

Ireland’s central bank has fined Coinbase Ireland €3.25 million after finding that the company failed to properly protect customer funds over several years. Errors in its systems left a designated customer-funds account short by as much as €5.2 million in 2024. Coinbase says no customers lost money or access to their funds, and the problems have been resolved. Coinbase Ireland has been fined €3.25 million ($3.65 million) after regulators discovered that the company’s systems repeatedly failed to set aside enough money to protect customer deposits. The problems stretched across several years, with daily shortfalls reaching €5.2 million in 2024. Ireland’s central bank announced the penalty Thursday, Oct. 22, following a settlement covering violations between November 2020 and August 2025.

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