Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
Soreide Law Group is reviewing potential investor claims tied to sales practice violations by securities brokers and financial advisors. One area of focus is Coinbase, a leading cryptocurrency exchange and wallet service. Coinbase has been in the spotlight recently due to serious security lapses that have impacted customer accounts and digital assets. Investors should be aware of this troubling information, which is summarized below.
Coinbase is a U.S.-based, publicly traded company that provides a platform for buying, selling, and holding cryptocurrencies. The firm also offers custodial accounts, staking programs, and merchant tools. With millions of users, Coinbase has expanded quickly, relying heavily on outside vendors and overseas contractors for customer service and operational support. This outsourcing strategy has allowed rapid growth, but it also creates exposure to risks in data handling and account security.
Recent disclosures show that Coinbase experienced a major breach in 2025 when outside contractors and employees were apparently bribed to provide access to internal systems. Criminals used this access to obtain customer information and, in turn, reportedly stole over $400 million in digital assets. Coinbase’s leadership confirmed these events, citing human error and third-party misconduct as key factors. Many customers reported not being fully warned of the risks, and some raised concerns about delayed responses and lack of restitution. For investors, these revelations raise questions about the company’s oversight of its vendors and its commitment to protecting customer accounts.
When financial advisors or brokers recommend investments connected to Coinbase, they have an obligation to ensure the recommendation is suitable and that risks are fully explained. Failures such as promoting Coinbase without proper disclosure, misrepresenting its safety, or ignoring an investor’s risk tolerance may amount to sales practice violations. Investors who suffered losses under these circumstances may be eligible to pursue claims through FINRA arbitration or other legal remedies. Common violations include unsuitable advice, omissions of material facts, and misleading assurances about stability or security.
Did you experience losses because of investing in Coinbase due to your financial advisor or securities broker? If so, reach out to Soreide Law Group online or call (888) 760-6552 to speak with a securities attorney about potential recovery options. Soreide Law Group represents clients nationwide, operates on a contingency fee basis, and advances all costs. The firm has helped investors recover significant sums and stands ready to evaluate your case.
Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
William Tunink (CRD: 2738224) settled a customer claim for $299,000 on August 11, 2026, according to his BrokerCheck report. The customer alleged that he obtained loans from the customer, and that some of the money went into an investment.
Tony Barouti (CRD: 3031995) faces a pending $230,400 customer claim, according to his BrokerCheck report. He says the allegations in it are false. His report also lists SEC administrative and cease-and-desist proceedings from August 2025.
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