Coinbase Data Breach Hacker Demands $20 Million Ransom, Has Been Fired and Reported to Law Enforcement

On May 16th, as reported by foxbusiness, the cryptocurrency exchange Coinbase Global announced that a network attack had resulted in the leakage of its customer account data, potentially incurring a loss of up to $400 million for the company. Subsequently, the company's stock price fell by more than 7% on Thursday. The stolen account data affected "a small number of customers" and included details such as names, addresses, phone numbers, emails, and government ID photos. In regulatory filings submitted on Thursday, the company stated that passwords and private keys were not exposed. Currently, Coinbase manages assets worth over $328 billion. On May 11th, it received an email from an unknown attacker claiming to possess customer account information and internal documents. The documents showed that these cybercriminals demanded a $20 million ransom in exchange for not disclosing this information. The hackers paid fees to several subcontractors and support staff overseas to obtain this information. According to Coinbase, they have terminated the relevant employees and handed them over to law enforcement.