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

BlockBeats News, May 16th, according to foxbusiness report, cryptocurrency exchange Coinbase Global stated that a network attack has led to a leakage of its customer account data, potentially causing the company up to a $400 million loss, subsequently causing the company's stock price to fall over 7% on Thursday.

The stolen account data affected "a small number of customers," including names, addresses, phone numbers, emails, and government ID photos. The company stated in regulatory filings submitted on Thursday that passwords and private keys were not exposed.

Currently, Coinbase manages over $328 billion in assets. On May 11th, it received an email from an unknown assailant claiming to have customer account information and internal documents. The documents reveal 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 involved employees and handed them over to law enforcement.