Coinbase · The Block
Coinbase Ireland fined $3.6 million over customer fund segregation, oversight failures
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The Central Bank of Ireland has fined Coinbase Ireland €3.25 million for breaches of customer fund safeguarding and outsourcing rules under the Electronic Money Regulations, the regulator said .
Key facts
- The settlement notice published by the central bank said Coinbase's handling of customer funds, including daily safeguarding shortfalls, reached €5.2 million ($5.8 million) in 2024
- For about 19 months, from March 2023 to October 2024, approximately 30 institutional clients deposited dollars into bank accounts held by Coinbase Inc., rather than accounts in the Irish entity's name
- The latest penalty follows a separate €21.5 million fine against Coinbase Europe in November 2025 after more than 30 million transactions went unmonitored, resulting in 2,708 late suspicious
- According to the statement, the exchange admitted the violations on Oct. 21 and accepted a reprimand alongside the fine, which was reduced from €4.65 million under a 30% settlement discount
Summary
According to the statement, the exchange admitted the violations on Oct. 21 and accepted a reprimand alongside the fine, which was reduced from €4.65 million under a 30% settlement discount. Coinbase said it had fully resolved the issues and that no customers lost money or were unable to access their funds. The settlement notice published by the central bank said Coinbase's handling of customer funds, including daily safeguarding shortfalls, reached €5.2 million ($5.8 million) in 2024. The central bank said the exchange allowed customer funds to be mixed with money held by other Coinbase entities.