Coinbase Turns Tables on Would-Be Extortionists, Offers $20M Bounty for Information

Cyber ​​-Criminals have tried to blackmail Coin in payment of $ 20 million Bitcoin due to stolen customers. Instead of paying, Crypto Exchange offers the same amount as wealth to bring the perpetrators to justice.

Crypto Exchange revealed that criminal support agents brought criminals to leak sensitive user data, including names, addresses, masked banks and documents, UA ID blog blog Posted on Thursday.

Although not endangered funds, passwords or private keys, and Coinbase Prime accounts remained “intact”, the attackers used data to launch targeted fraud from social engineering on customers.

“They then tried to extort Coinbase for $ 20 million to cover it. We said no,” the company wrote in her statement.

AND video statement From the executive director Brian Armstrong quoted Coinbase instead of a direct response to Decipherin which he stated, “We will not pay your ransom.”

In the move mirrored the plot 1996 movie “Ransa,” Armstrong added that he had, “a few of the following steps in mind … Let’s equip a $ 20 million reward for all the information he leads to the arrest and beliefs of these attackers,” said the CEO.

Control-mig signifies a shift in the way the companies crypto respond to criminal threats. Although companies usually offer killers to encourage hackers to return the stolen property, Coinbase uses the offensive award against Cyber ​​-Kriminalci.

“This is a huge problem in the industry and it is only getting worse,” said Philip Martin, the Coinbase Main Security Officer, in interview with Wealth.

He confirmed that the compromised support agents were headquartered in India and all were abolished.

“Hell no!”

Martin added that the demand for the ransom came with a threat to publish the stolen data unless Coinbase is paid.

“The reaction of the knee of every single person who heard we were extracted was” hell no! “He said.

Coinbase said he was working with the implementation of the law, he marked the addresses of the attacker carrier and that he would compensate for any buyer who lost funds due to the attack of social engineering.

The company also triggers new American support and a splash of access controls in its systems.

“We will persecute you and bring you to justice,” Armstrong said in his final message to the attackers. “Now you have my answer.”