Coinbase Ireland fined €3.25M over customer fund safeguard lapses

Ireland's central bank fined Coinbase Ireland €3.25 million for failing to properly safeguard customer funds over several years. System errors 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 funds, but the penalty highlights custody and compliance risk for a major exchange.