Coinbase launches $20M bounty to catch perpetrators of data breach

By: bitcoin ethereum news|2025/05/15 20:15:05
0
Share
copy
Key Takeaways Coinbase offers a $20 million bounty for information leading to the arrest of data breach perpetrators. The data breach affected less than 1% of Coinbase users and no passwords or funds were compromised. Coinbase has launched a $20 million reward program to identify and bring to justice the perpetrators behind a recent data breach that involved bribed customer service agents and attempted extortion, the company said in a Thursday announcement. The crypto exchange disclosed that cybercriminals paid overseas customer support agents to extract sensitive customer data from internal systems. The breach affected less than 1% of Coinbase’s monthly transacting users but did not compromise passwords, private keys, or access to customer funds, Coinbase stated. Coinbase Prime accounts remain unaffected. The attackers attempted to use the stolen information, including names, contact details, masked SSNs and bank data, and account activity, to conduct social engineering scams impersonating Coinbase. After the breach, the perpetrators issued a $20 million ransom demand, which Coinbase firmly rejected. “We’re cooperating closely with law enforcement to pursue the harshest penalties possible and will not pay the $20 million ransom demand we received,” Coinbase said in the announcement. “Instead, we are establishing a $20 million reward fund for information leading to the arrest and conviction of the criminals responsible for this attack.” The company confirmed that any retail customers who were tricked into sending funds as a result of this incident would be reimbursed following an internal review. Affected users have already been notified. In response to the breach, Coinbase implemented several security measures, including opening a new US-based customer support hub, strengthening insider threat detection systems, adding mandatory scam-awareness prompts and ID checks for flagged accounts, and collaborating with law enforcement to trace stolen funds. “For these would-be extortionists or anyone seeking to harm Coinbase customers, know that we will prosecute you and bring you to justice. And now you have my answer,” said Coinbase CEO Brian Armstrong in a video statement. Source: https://cryptobriefing.com/coinbase-data-breach-bounty/

You may also like

Electric Capital: Tracking 501 types of yield-generating RWA assets, we discovered these patterns

From private credit to GPU leasing, from catastrophe bonds to music royalties, the range of tokenizable assets is much richer than the market perceives. However, the biggest challenge is not technology, but distribution—existing RWAs heavily rely on a few large deployers, and the concentration of ri...

Those who are cut off by AI will not disappear; they will become the creators of the next round of the economy

AI is not eliminating people, but rather the superstition of "stable careers": those who break the shackles of organizations and understand how to rewrite themselves are ushering in the ultimate revenge.

Stablecoins reshaping cross-border payments in Asia? Strategic panorama and investment opportunity analysis

With the popularity of local payment channels, the costs of traditional transfers have been significantly reduced, and the fees are now mainly concentrated in the domestic settlement phase, which is precisely what stablecoins cannot bypass.

Zuckerberg is building an AI agent to help him as CEO

Zuckerberg is reported to be personally developing a "CEO proxy" to accelerate information acquisition and reduce management layers.

Bloomberg: Swiss Private Bank Old Guard Rifts, Is Bitcoin the Spark?

For Marc Syz, this is both a bet on the digital asset track and a complete break from Switzerland's long-established private banking dynasty.

Zuckerberg is building an AI assistant to help him be CEO

Mark Zuckerberg has been reportedly personally developing a "CEO Proxy" to speed up information flow and reduce management layers.

Popular coins

Latest Crypto News

Read more