Leading crypto firm Coinbase faces up to $400m hit from cyber attack

Leading crypto firm Coinbase faces up to $400m hit from cyber attack 42 minutes ago Share Save Tom Gerken Technology reporter Share Save Getty Images One of the world's biggest cryptocurrency firms, Coinbase, says a recent cyber attack will cost it up to $400m (£301m). The firm said it was contacted by hackers who claimed to have gained access to customer information, obtained by making payments to Coinbase contractors and employees. In a blog post, Coinbase said the criminals had gained access to "less than 1%" of its customer data, which they then used to impersonate the firm and trick people into handing over their crypto. The group then demanded $20m from Coinbase to keep it quiet - but it refused to pay the bribe and instead promised to pay back every person who got scammed. The disclosure prompted the firm's share price to fall by 4.1%. The cyber attack comes days before the US company is set to join the benchmark S&P 500 index - a landmark moment for the crypto industry. It ... Read full article.