April, 2022
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StopSIMCrime Summit

Michael Pierre v Coinbase

10/1/2021

**Michael Pierre claims that Coinbase was grossly negligent of its promise to protect and secure its customers' cryptocurrencies from cyberattacks. **

Mr. Pierre further claims that Coinbase dropped the ball on a series of anti-cyber attack/anti-hack precautions mandated by federal and state laws, rules, and regulations for cryptocurrency exchanges like Coinbase.

Claims in
Michael Pierre v Coinbase
Deceptive Business Practices in Violation of General Business Law § 349

GBL § 349 is broad in scope and prohibits deceptive and misleading business practices. To state a cognizable claim under Section 349(h), a plaintiff must identify consumer-oriented misconduct, which is deceptive and materially misleading to a reasonable consumer, and which causes actual damages. 

Negligence

Negligence is defined as a failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances. The behavior usually consists of actions, but can also consist of omissions when there is some duty to act (e.g., a duty to help victims of one's previous conduct). 

Gross Negligence

Gross negligence is more than simple carelessness or failure to act. It is willful behavior done with extreme disregard for the health and safety of others. It is conduct likely to cause foreseeable harm.

Cases

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