Inside job at Coinbase leads to massive data breach, $20 million ransom demanded

What just happened? As the crypto industry continues to evolve and attract mainstream attention, the latest incident at Coinbase highlights the ongoing risks and the urgent need for stronger security measures. The company's response – refusing to pay ransom, cooperating with authorities, and compensating affected customers – may set a precedent for how major players in the sector handle such crises going forward. Coinbase, the largest cryptocurrency exchange in the United States, is facing significant fallout after disclosing a major cyberattack that compromised sensitive data from some of its customers. The company revealed in a regulatory filing that the breach could cost between $180 million and $400 million, marking one of its most substantial security incidents. The breach came to light after Coinbase received an email on May 11 from an unidentified hacker who claimed to possess confidential information about certain customer accounts and internal company documents. While the at ... Read full article.