Defendants: GDP Holdings LLC d/b/a CoinFlip and CF Preferred LLC d/b/a Olliv
If you were among the users affected by the CoinFlip data breach on August 7, 2023, you may be eligible for cash payments of up to $5,000 as part of a $475,000 class action settlement.
The lawsuit claims that CoinFlip failed to adequately safeguard users’ personal information, which led to unauthorized access of sensitive data. While CoinFlip denies any wrongdoing, the company has agreed to a settlement and implemented enhanced data security measures.
Who Is Eligible?
You may be eligible if:
- You are one of the 36,646 CoinFlip users in the U.S. whose data was potentially accessed in the August 2023 breach.
- California residents make up a subclass of 4,496 users who lived in the state at the time of the breach and are entitled to additional benefits under the CCPA.
What Compensation Is Available?
Out-of-Pocket Reimbursement:
Up to $2,500 for documented expenses directly related to the breach, such as:
- Credit monitoring or identity theft protection
- Fees for credit reports or freezes
- Costs for replacing cards or opening/closing accounts
- Overdraft fees, postage, and similar charges
Transaction Losses:
Up to $5,000 for documented financial losses directly tied to the breach.
Lost Time Compensation:
Up to 3 hours of lost time at $25/hour ($75 total) for efforts made in response to the breach.
California Residents (CCPA Payment):
An additional estimated $100 cash payment, in addition to the above benefits.
How to File a Claim
Submit a claim either:
- Online via the official settlement website
- By Mail by printing and mailing the completed claim form to:
CoinFlip Data Breach Class Action Lawsuit
c/o Kroll Settlement Administration LLC
P.O. Box 225391
New York, NY 10150-5391
Claim Deadline: July 15, 2025
Proof Required
- Class Member ID (provided in your mailed notice)
- For reimbursement claims, include supporting documents such as receipts, bills, or statements confirming the expenses or losses.
- For transaction losses, you must provide evidence linking the loss directly to the breach.
Payment Options
- Electronic payment (available for online claims only)
- Paper check mailed to your provided address
Settlement Fund Allocation
The $475,000 settlement fund will be used for:
- Attorneys’ Fees: $158,333.33
- Litigation/Admin Costs: Up to $10,000
- Class Representative Service Awards: $10,000 each
- Payments to Class Members: The remaining balance
Key Deadlines
- Claim Filing Deadline: July 15, 2025
- Opt-Out Deadline: July 15, 2025
- Final Approval Hearing: July 24, 2025
When Will Payouts Be Issued?
Payments will be distributed within 35 days of the court granting final approval of the settlement or after any appeals have been resolved.
Why Did This Lawsuit Happen?
The lawsuit alleges that a third party used social engineering to access a CoinFlip employee’s account on August 7, 2023, potentially compromising user data. While CoinFlip denies the allegations, it chose to settle to avoid the costs and risks of ongoing litigation.
As part of the agreement, CoinFlip has enhanced its data security protocols, including:
- Stronger multi-factor authentication
- Expanded security monitoring systems
Sources:
Award: Up to $5,000
Claim Deadline: July 15, 2025
Please be aware that your claim form will be rejected if it contains fraudulent information. By submitting your information and your sworn statement of its accuracy, you are agreeing to do so under penalty of perjury. Submitting false information not only jeopardizes your claim but also affects others who are genuinely eligible for the settlement. If you are uncertain about your eligibility for this class action settlement, please visit the class action administrator’s website for more information. Note that NoProofClassActions.org participates in the Amazon affiliate advertising program, and this post may include affiliate links, which could result in us earning a commission if you make a purchase through those links.
