Coinbase Hit By Data Breach, Refuses To Pay $20M Ransom
Posted On May 15, 2025
Coinbase (NASDAQ:COIN) on Thursday disclosed a material cybersecurity incident involving insider abuse and data theft, leading to a $20 million Bitcoin (CRYPTO: BTC) ransom demand from a threat actor.
The company has refused to pay, instead placing a $20 million bounty for information leading to the arrest and conviction of the perpetrators.
In a Form 8-K filed with the U.S. Securities and Exchange Commission on May 15, Coinbase revealed that attackers had bribed overseas support contractors to exfiltrate internal documentation and personal user data, including names, contact details, masked bank and SSN data and government IDs.
The breach affected …
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