The GraniteShares 2x Long Coinbase Daily ETF (CONL) closed down 2.64% at $42.72 on February 4th, as underlying Coinbase shares fell 2.32% to $277.80 amid security concerns. Blockchain researchers have highlighted significant security gaps in Coinbase, estimating that these vulnerabilities have led to $300 million in stolen funds over the past year. The report points to social engineering tactics and the blocking of VPNs by scammers as key issues, urging Coinbase to enhance its fraud tracking and customer support. These revelations have likely contributed to the negative sentiment surrounding Coinbase, impacting its stock performance.