Coinbase Hit by $20M Extortion Plot After Data Breach - adtechsolutions

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Coinbase Hit by $20M Extortion Plot After Data Breach


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Cryptocurrency exchange Coin


2,24b USD



was recently targeted in a scheme in which The attackers tried to extort $ 20 million after receiving access to some internal tools.

According to the company, Several foreign contractors have been paid by outsiders to leak limited customers data.

In a Post on the blog published on May 15th. MayCoinbase explained that the attackers have convinced several support agents to abuse their access and download data from a small number of user accounts.

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Not exposed credentials for registration, private keys, funds or main accounts are not exhibited. The company said that Less than 1% of active monthly users affected.

After collecting the stolen data, the group required Bitcoin worth $ 20 million

Btc

103.709,88 USD



In order for a violation to hold private
. However, Coinbase offered a $ 20 million reward for information that could help identify and condemn individuals.

Coinbase said that plans to restore these usersand estimated that the total cost Compensation and other related actions could reach between $ 180 and $ 400 million. Financial estimate was Divided in the submission of the application With the US Securities Commission (SEC), where Coinbase described the costs as part of the “voluntary compensation” effort.

Coinbase CEO Brian Armstrong said UA Post on x That the attackers have contacted assistant staff abroad for several months, offering money in exchange for customers’ information.

In response, Coin He plans to improve the way they deal with customers’ data and move parts of their support for new locations.

May 13, ZKSYNC and its development team, Matters Labs, experienced a security incident. How did it happen? Read the whole story.

After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
Considering the decade of experience in Fintech industry, Aaron understands all the biggest questions and struggles that cryptocurrency lovers face. He is an avid analyst who deals with the content based on data and facts, as well as the one who speaks to the web3 natives and the newcomer in the industry.
Aaron is a person for everyone and for all related to digital currencies. With a huge passion for Blockchain & Web3 education, Aaron tries to transform the space the way we know it and make it more affordable to complete beginners.
Aaron quoted more established outlets and was the author himself. Even during her free time, she enjoys exploring market trends and looking for the next Supernova.




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