From Yahoo Finance: 2025-05-15 10:48:00

Coinbase, the largest cryptocurrency exchange in the U.S., reported that criminals obtained personal data on customers for use in crypto-stealing scams and demanded a $20 million payment to not release the info. CEO Brian Armstrong stated that criminals bribed customer service agents for data like names and social security numbers. Social engineering attacks were mentioned as a hacking strategy, with many large companies falling victim to such scams. Coinbase shares fell 6% in trading due to the incident. The company estimated remediation costs between $180-400 million. Coinbase refused to pay the ransom and offered a $20 million bounty for information leading to the attackers’ arrest.



Read more at Yahoo Finance: Coinbase said cyber crooks stole customer information and demanded $20 million ransom payment