Coinbase will launch cbADA, cbDOGE, cbLTC, and cbXRP.

Crypto exchange Coinbase has announced plans to launch four new Base-linked tokens: cbADA, cbDOGE, cbLTC, and cbXRP. The exchange shared it on Tuesday, May 13, via the official Coinbase X account.

In addition, Coinbase stated that the tokens are not yet live. It wrote, “cbADA, cbDOGE, cbLTC, and cbXRP are coming soon. These assets are not yet live or available. We will announce their launch at a later date.”

The exchange also warned users of potential scams. “There could be fraudulent actors making false claims that cbADA, cbDOGE, cbLTC, and cbXRP are available to trade,” it warned.

Furthermore, Coinbase shared official Base contract addresses to help users verify any claims. Until the official launch, the tokens remain unavailable.

Other Coinbase updates

Coinbase also announced that it has disabled trading for Movement (MOVE). Users can still access and withdraw their MOVE tokens. However, trading is no longer active.

In other news, Coinbase noted that PAX Gold (PAXG) is now live on its platform. Users can access it via the web, iOS, and Android apps. PAXG is a tokenized version of physical gold, recently gaining traction in the market.

Also, Coinbase Wrapped Staked ETH (CBETH) is now available to New York residents. This gives users in the state access to staked Ethereum in a more flexible, tradable form.

Interestingly, Coinbase, Inc. recently announced that it is now officially licensed by the New York State Department of Financial Services. This license allows Coinbase to operate its virtual currency business in the state, which is a big win for both the platform and its users.

Coinbase faces a security risk

The new listings come as Coinbase battles a major security breach after hackers claimed to have stolen sensitive user data. The attackers are demanding $20 million in Bitcoin to stay quiet.

However, CEO Brian Armstrong says they won’t pay. Instead, the exchange plans to offer a $20M bounty, seeking help to catch the culprits.

Reports suggest the hackers bribed support staff to access names, emails, phone numbers, and even partial Social Security numbers. Coinbase has confirmed the breach and is notifying affected users.

The incident highlights growing concerns over centralized exchanges and the risks of storing large amounts of customer data in one place.

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