🚨 Breaking Cybersecurity News!
In a digital world where data is the new currency, even major players like Coinbase aren’t immune to cyberattacks. Here’s everything you need to know about the latest breach that shook the crypto world.
🔒💰 Read on to find out what happened, how Coinbase responded, and what it means for crypto investors like you.
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Summary of the Incident:
Coinbase, the largest cryptocurrency exchange in the U.S., has confirmed it was the target of a cyberattack that led to a data breach involving sensitive customer information. Hackers demanded a $20 million ransom to avoid leaking the stolen data, but Coinbase has firmly refused to comply.
Breach Details:
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Method of Attack: Hackers bribed third-party customer service agents to gain access to internal systems and sensitive client data.
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Leaked Data Includes: Customer names, emails, phone numbers, and some financial details.
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Affected Users: Less than 1% of Coinbase’s monthly customer base was impacted.
Company Response:
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No to Ransom: Coinbase refused to pay the $20 million ransom. Instead, they offered a $20 million reward for information leading to the identification and arrest of the hackers.
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Security Upgrades: The company has ramped up its internal security, opened a new support center in the U.S., and applied stricter security controls across all platforms.
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Customer Compensation: Coinbase pledged to fully compensate any customers affected by the breach.
Financial Impact:
The estimated cost to Coinbase, including response measures and user compensation, could range between $180 million and $400 million.
Note: For full details, you can visit the original article on Asharq Bloomberg.
