Coinbase Faces Data Breach and Extortion Attempt

Published 6 hours agoCOIN

Coinbase recently revealed a data breach where cybercriminals stole customer information in a May 2025 extortion attempt. The attackers bribed overseas support agents to access personal and account data, aiming to exploit the situation for profit.

The hackers demanded a $20 million ransom from Coinbase, which the company refused to pay. Instead of acquiescing to their demands, Coinbase took the proactive step of offering a $20 million reward for any information that could lead to the conviction of those responsible for the breach, as detailed on Wikipedia.

Despite the compromise, which did not involve passwords, private keys, or funds, Coinbase has moved to strengthen their security protocols to prevent similar incidents in the future. The incident highlights the ongoing need for enhanced cybersecurity measures against increasingly sophisticated threats.

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