Coinbase refuses $20M ransom after support agent data breach

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Coinbase rejected a $20 cardinal ransom request aft insiders leaked idiosyncratic information successful a phishing scheme. Less than 1% of users were affected, the steadfast said.

Coinbase refuses $20M ransom aft enactment cause information breach

Coinbase, the world’s third-largest cryptocurrency exchange, was deed by a $20 cardinal ransom request arsenic cyber criminals attempted to bargain delicate idiosyncratic information from the exchange.

Cyber criminals person bribed and recruited a “group of overseas enactment agents” to bargain Coinbase lawsuit information to facilitate societal engineering schemes specified as phishing attacks.

“These insiders abused their entree to lawsuit enactment systems to bargain the relationship information for a tiny subset of customers,” wrote Coinbase successful a May 15 X post, adding that nary passwords, backstage keys, funds, oregon Coinbase Prime accounts were affected.

Less than 1% of Coinbase’s monthly transacting users’ information was affected by the attack.

After stealing the data, the attackers “tried to extort Coinbase for $20 cardinal to screen this up,” which the speech refused.

Instead, Coinbase volition found a $20 cardinal reward for accusation starring to the apprehension and condemnation of these attackers.

Scammers often masquerade arsenic the astir recognized brands to animate a fake consciousness of spot successful their victims.

In 2024, Coinbase was the astir impersonated cryptocurrency marque by scammers, but the Meta level was targeted by implicit 25 times arsenic galore scammers arsenic the crypto exchange, Cointelegraph reported successful June 2024.

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