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Coinbase Offers $20 Million Bounty After Insider-Driven Data Breach

  • Coinbase publicly revealed on Thursday that criminals obtained personal customer data through bribed non-U.S. Agents and demanded $20 million in ransom to withhold its release.
  • The breach occurred because attackers bribed some Coinbase customer service agents living outside the U.S. To access sensitive information like names and partial social security numbers.
  • This stolen data allows attackers to impersonate Coinbase support and conduct social engineering to trick customers into sending cryptocurrency to them.
  • Coinbase CEO Brian Armstrong stated, "We will prosecute would-be extortionists" and announced a $20 million bounty for information leading to the attackers' arrest.
  • Coinbase refuses to pay the ransom and estimates it will spend between $180 million and $400 million on remediation costs and voluntary reimbursements due to the incident.
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At the leading US crypto exchange Coinbase, numerous customer data has been stolen. The blackmailers demand 20 million dollars. Head of the company Armstrong turns the tables and spends the same amount on their capture.

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  • 61% of the sources are Center
61% Center
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Forbes broke the news in United States on Thursday, May 15, 2025.
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