The largest #Crypto exchange in the US anticipates that it will lose between $180-$400 million following a recent cyberattack, which obtained the names, addresses, and email addresses of a small subset of customers (but thankfully not their login info or passwords). Customers who were tricked into sending funds to the attackers will reportedly get refunds. Bloomberg suggests the hackers got access to Coinbase’s customer data by bribing customer service representatives within the company. Oh no!

https://www.reuters.com/business/coinbase-says-cyber-criminals-stole-account-data-some-customers-2025-05-15/?_bhlid=2525e7fbcf1049a1e5f2ab765918f1f0c6ef9b0d

Coinbase warns of up to $400 million hit from cyberattack

Crypto

The largest #Crypto exchange in the US anticipates that it will lose between $180-$400 million following a recent cyberattack, which obtained the names, addresses, and email addresses of a small subset of customers (but thankfully not their login info or passwords). Customers who were tricked into sending funds to the attackers will reportedly get refunds. Bloomberg suggests the hackers got access to Coinbase’s customer data by bribing customer service representatives within the company. Oh no!  https://www.reuters.com/business/coinbase-says-cyber-criminals-stole-account-data-some-customers-2025-05-15/?_bhlid=2525e7fbcf1049a1e5f2ab765918f1f0c6ef9b0d

Cyril

The news sent its shares down 6%.  Worth a buy?

Sam Mendoza

Tl;dr: Cyber criminals bribed and recruited a group of rogue overseas support agents to steal Coinbase customer data to facilitate social engineering attacks. These insiders abused their access to customer support systems to steal the account data for a small subset of customers. No passwords, private keys, or funds were exposed and Coinbase Prime accounts are untouched. Coinbase says they will reimburse customers who were tricked into sending funds to the attacker. They’re cooperating closely with law enforcement to pursue the harshest penalties possible and will not pay the $20 million ransom demand received. Instead they are establishing a $20 million reward fund for information leading to the arrest and conviction of the criminals responsible for this attack.

https://www.coinbase.com/blog/protecting-our-customers-standing-up-to-extortionists

Tl;dr: Cyber criminals bribed and recruited a group of rogue overseas support agents to steal Coinbase customer data to facilitate social engineering attacks. These insiders abused their access to customer support systems to steal the account data for a small subset of customers. No passwords, private keys, or funds were exposed and Coinbase Prime accounts are untouched. Coinbase says they will reimburse customers who were tricked into sending funds to the attacker. They’re cooperating closely with law enforcement to pursue the harshest penalties possible and will not pay the $20 million ransom demand received. Instead they are establishing a $20 million reward fund for information leading to the arrest and conviction of the criminals responsible for this attack.  https://www.coinbase.com/blog/protecting-our-customers-standing-up-to-extortionists

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Cyril

A group of likeminded people in Crypto are talking about this.