Coinbase Targeted by Insider Data Theft, Offers $20M Bounty for Cybercriminals
Summary
In a brazen data breach, Coinbase revealed that cybercriminals bribed its overseas support staff to steal customer data, prompting the crypto exchange to terminate the involved employees, warn affected users, and offer a $20 million bounty for information leading to the criminals' arrest, despite no passwords or funds being compromised.
Key Points
- Coinbase reported that cybercriminals bribed overseas support staff to steal customer data and demanded $20 million ransom
- The stolen data included sensitive information like names, addresses, and partial bank details, but no passwords or funds were compromised
- Coinbase terminated the involved employees, warned affected customers, and is offering a $20 million reward for information leading to the arrest of the criminals