Coinbase settles a slashing of $24.7 million in Ireland for transaction oversight errors.

2025-11-06 16:19:05

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Coinbase Europe Limited, the European branch of the cryptocurrency exchange Coinbase ( America ), has reached a settlement of 21.5 million euros ( 24.7 million USD ) with the Central Bank of Ireland due to technical errors in the transaction monitoring system during the period 2021–2022. Programming errors caused some transactions to only be partially checked for suspicious activity. Coinbase discovered and fixed the issue within a few weeks and reviewed all affected transactions.

Approximately 2,700 suspicious reports were submitted related to 15 million USD out of a total of 185,000 transactions, accounting for about 31% of the 202 billion USD in transactions of Coinbase Europe at that time. The fine is based on an average revenue of 480 million USD per year in Ireland. Coinbase has now strengthened its AML processes, expanding testing and monitoring. In 2023, they chose Ireland as their European operational hub before the MiCA regulations came into effect.

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