Are you an Uphold customer who has had their cryptocurrency stolen from your Uphold account?
Our law firm is investigating the cryptocurrency exchange, Uphold, and we have filed a class action complaint against this cryptocurrency exchange in District Court for the Southern District of New York.
A copy of the current federal class action complaint is linked HERE.
Many victims have contacted our firm alleging that their cryptocurrency was stolen due to the grossly negligent conduct of Uphold. Others have reported problems with Uphold customer service ignoring customers' frantic notices that their cryptocurrency funds had been stolen and generally not taking any responsibility despite allegations that Uphold's two-factor authentication failed and led to the theft of cryptocurrency.
If you have had your cryptocurrency stolen from an Uphold account, we want to talk to you, as you may be interested in fighting back against Uphold to get compensated for your loss.
Please contact us below and let us know:
- When (approximately) you signed up with Uphold;
- When and how much of your funds were stolen (specify the type of cryptocurrency);
- Were you alerted to changes in your account through Uphold's two-factor authentication system? Or did Uphold's two-factor authentication process fail?
- Has Uphold provided you details about how your cryptocurrency was stolen? If yes, please let us know.
- In what state do you reside? Where did you reside when you signed up for your Uphold account?
We look forward to hearing from you.
Fully describe the facts of your personal experience / legal matter (the other parties involved, followed by a brief chronology of the facts, the nature of the dispute, and your objective, etc.):
FAQs
Security. Uphold offers industry-standard security measures, including KYC verification and two-factor authentication. The majority of user funds are held offline in cold storage, which is generally more secure than storing funds online in hot wallets.
Does Uphold have a customer service number? ›
If your issue is unresolved by Uphold HQ, Inc. +1 (888) 821-0966, please submit formal complaints with the State of Alaska, Division of Banking & Securities. Please download the form here.
Is uphold a wallet or exchange? ›
Is Uphold a Wallet or an Exchange? Uphold is a multi-asset exchange—not just a digital wallet. As such, it is a platform that allows users to exchange and transfer fiat currencies, precious metals, cryptocurrencies, and certain stocks.
Has Uphold been hacked? ›
First, I'd like to reassure you that Uphold was not hacked and no customer funds were stolen. Your accounts remained safe throughout the incident and our security measures worked as planned.
Is Uphold legal in the US? ›
Uphold is regulated in the U.S. by FinCen and state regulators and in the U.K. by the FCA; and is registered in Canada with FINTRAC and in Europe with the Financial Crime Investigation Service under The Ministry of the Interior of the Republic of Lithuania.
Can US customers use Uphold? ›
When you deposit funds from your US bank via the ACH Network, we'll instantly credit the money into your Uphold account for you to start trading. This means you can buy, hold and sell assets immediately after an ACH deposit.
How many customers does Uphold have? ›
About Uphold
As a web3 financial platform, Uphold serves more than 10 million customers in more than 140 countries. It provides businesses and consumers with easy access to digital assets and services.
Does Uphold report to the IRS? ›
Yes, Uphold reports to the IRS. Uphold issues US users with 1099 forms. Whenever you get a 1099 form - the IRS does too. As well as this, according to Uphold's privacy policy, Uphold has a legal obligation to report to the IRS any taxable transactions that occurred on their platform for the year.
How reliable is Uphold? ›
Uphold is a relatively safe platform equipped with encryption technology, due diligence checks on third-party providers, routine security audits, and its BugBounty program.
Is Coinbase safer than Uphold? ›
Uphold and Coinbase are secure exchanges offering a good selection of cryptocurrencies and features useful to traders, such as Uphold's AutoPilot and the Coinbase Earn program. But, people wanting a multi-asset trading platform should head to Uphold to buy precious metals, national currencies, and environmental tokens.
No Investor Protection: Crypto-assets held in an Uphold account do not benefit from the protection provided by the Financial Ombudsman Service (FOS), or the Financial Services Compensation Scheme (FSCS) if something goes wrong. You should be aware and prepared to potentially lose some of all of your money.
Is Uphold safer than Coinbase? ›
Uphold and Coinbase are secure exchanges offering a good selection of cryptocurrencies and features useful to traders, such as Uphold's AutoPilot and the Coinbase Earn program. But, people wanting a multi-asset trading platform should head to Uphold to buy precious metals, national currencies, and environmental tokens.
Is staking on Uphold safe? ›
As with any financial operation, staking is not risk-free. The most common risk associated with staking is incurring “slashing” penalties charged by the network. Uphold protects against any uptime-related slashing risk, and monitors staked assets 24/7 to avoid downtime-related slashing.
