Iranian national sues cryptocurrency platform in High Court over alleged seizure of $2.8m assets

Coinbase accused of wrongfully freezing and seizing assets held in his account on the platform following purported concerns about the source of his wealth

Coinbase Europe’s parent company, Coinbase Group, is the largest cryptocurrency exchange in the US and the world’s biggest custodian of Bitcoin. Coinbase Europe was previously regulated by the Central Bank of Ireland. File picture: Richard Drew/AP

An Iranian national based in Spain is suing a fintech firm in the High Court over the company’s alleged seizure of his $2.8m (€2.4m) in cryptocurrency assets.

Ali Asghar Afrouz, aged 74, claims Coinbase wrongfully froze and seized his assets held in his account on the platform following purported concerns about the source of his wealth.