Coinbase Hacked: Over 69,000 Users Affected in Major Data Breach
Coinbase, the largest U.S.-based cryptocurrency exchange, has confirmed a serious data breach that impacted around 69,461 customers. The issue was caused by overseas customer service agents who stole sensitive information and attempted to blackmail the company for $20 million.
What Happened?
According to Coinbase’s filing with the Maine Attorney General, a few individuals working at overseas support centers accessed customer data without permission. These agents were bribed by hackers to leak the information.
What Data Was Stolen?
The stolen data includes:
- Full names
- Email addresses
- Postal addresses
- Last 4 digits of Social Security numbers
- Masked bank account numbers
- Some bank details
- Government ID images
- Account balance snapshots
- Transaction history
- Limited corporate data
Important: No passwords, private keys, or funds were stolen.
Ransom Demand
The attackers asked for $20 million in ransom. Coinbase refused and instead created a $20 million reward fund to help find and arrest the hackers.
Coinbase’s Actions
- Terminated the employees involved
- Improved fraud detection and security systems
- Notified affected customers
- Cooperated with law enforcement
The company believes this was a planned attack and acted quickly once it was discovered.
Estimated Cost
Coinbase estimates the cost of recovery and reimbursements to be between $180 million and $400 million. Customers who sent money to scammers due to the breach will be reviewed for reimbursement.
Customer Safety Tips
- Never share your password or 2FA codes
- Coinbase will never ask you to move funds or send crypto
- Be cautious of fake calls, texts, or emails
This breach highlights the need for strong security measures. Coinbase is taking all steps necessary to prevent future incidents.
