Coinbase Insider Attack Exposes Data of 69K Users
The post Coinbase Insider Attack Exposes Data of 69K Users appeared on BitcoinEthereumNews.com.
On December 26, 2024, 69K plus consumers’ data was exposed due to a Coinbase breach. Hackers bribed overseas support staff to steal customer information. No passwords or funds were compromised; Coinbase Prime was unaffected. The data breach at Coinbase was experienced by sixty-nine thousand four hundred sixty-one individuals, according to the company. The Maine Attorney General said that the data breach happened on December 26, 2024, but wasn’t discovered until May 11, 2025. With money given to customer service workers outside the country, cybercriminals acquired users’ personal information. The hackers accessed people’s names, email addresses, home addresses, phone numbers, government IDs, amount of money in their accounts and transaction information. No one’s passwords, private keys or funds were breached. Coinbase Prime account users were not affected. The company decided not to pay the ransom of $20 million that the attackers requested. What Events Led to the Breach The hackers went after Coinbase’s overseas support team with an offer of cash in return for customer information. Only a very small percentage of Coinbase customers who transact every month were impacted by the insiders copying information from customer support tools. With the stolen data, attackers impersonated Coinbase to convince users to send cryptocurrency. The internal security team at the company spotted the breach. Individuals working for the company as support agents, all from India, were immediately fired. Coinbase is taking criminal action against the hackers in cooperation with international law enforcement. The company sent the crypto addresses used by attackers to help authorities track and restore assets. On May 11, 2025, Coinbase got an extortion email asking for $20 million to keep the data from being released. Instead of giving in, the exchange set up a $20 million reward for anyone who helped find and arrest those responsible for the incident Coinbase’s…
Filed under: News - @ May 22, 2025 11:17 pm