69,461 Users Impacted In Coinbase Breach, New Filing Shows

Main notes

• Crypto Excination Coinbase exposed from 69,461 users in December 2024.
• The infiltrators demanded $ 20 million from the ransom to avoid the leakage of stolen data.
• Instead of paying, Coinbase provides a $ 20 million reward for information about the attackers. .

More information about Coinbase Global Inc. , Which led to the exposure of personal data associated with thousands of users.

A new file of the Prosecutor’s Office in Maine confirmed that 69,461 people were affected during the December 2024 incident. This raises new concerns about the security industry in the encryption industry.

The infiltrators demanded $ 20 million in the ransom from Coinbase

Coinbase’s breach appeared after the company revealed that the attackers demanded $ 20 million to prevent stolen data leakage on the dark network. According to Coinbase, infiltrators targeted customer support staff abroad, using cash incentives to reach internal systems.

according to DepositThe trading platform is committed to compensation for the victims amid continuous investigations.

Although the attackers got personal details such as names, home addresses and e -mail information, Coinbase said that passwords, special switches and user boxes were not part of the breach.

These details were included in the company’s file to the US Securities and Stock Exchange Committee. However, many users remain concerned about the long -term effect of showing factors knowledge data (KYC).

The federal authorities intervened after the accident. The US Department of Justice is now investigating the matter at the request of Coinbase. Meanwhile, the Securities and Stock Exchange Committee reviews whether the trading platform amplifies the user numbers before the 2021 list.

Paul Groal, the Coinbase’s chief legal official, referred to a SEC as an investigation into a previous administration. I reassured him that he may not lead to severe consequences.

In a surprising step, Coinbase has provided a $ 20 million bonus for information about individuals behind the penetration. The company hopes that the reward will lead to arrests and send a message to the attackers in the future.

The general reaction interaction and KYC fears with costs

Coinbase delay for months in response to violation. He was a well -known founder, investor and investor in the field of technology, Michael Arengton, vocal for human breach.

He said that the publication on X, and he said that the open data could cause damage that exceeds what could be suitable for compensation. He suggested that the cost be measured in dollars, as well as the emotional and physical damage of the victims.

Brian, thanks for the comments. An apology for the title of Bloomberg … Emiliemc I also mentioned to me after publishing that Coinbase had arrived at the Ministry of Justice.

I fully understand that criminal responsible executives holding a position that the best people do not do …

– Michael Arrington ‍ (Armington) May 21, 2025

Coinbase estimates that violation can lead to expenditures ranging from $ 180 million and $ 400 million to cover damage and payment control. This development occurs as government organizers and users wondering how safe their data is on the main encryption platforms.

Arrington also criticized KYC laws, describing them ineffective and dangerous. He blamed a system where profit motives and weak penalties allow for data violations of such events. Urging stronger rules and more accountability for companies.

It should be noted that encryption fraud has become increasingly common recently. The ecosystem of digital assets face attacks not only on large platforms like Coinbase but also on Defi protocols.

One of the most prominent prominent piracy cases was the exploitation of bybit, which led to the theft of a historical encoder worth $ 1.4 billion.

However, along with prominent violations like this, ordinary investors are also a well -planned victim of fraud. Recently, a Maryland woman has lost $ 3 million in a coding fraud known as “pig slaughtering”. The fraudsters, who are believed to be from Southeast Asia, built confidence over several weeks using a fake Korean correspondence application before stealing her money.

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Slip: Coinspeaker is committed to providing unbiased and transparent reports. This article aims to provide accurate and timely information, but it should not be considered financial or investment advice. Since market conditions can change quickly, we encourage you to check your information and consult with a professional before making any decisions based on this content.

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