Coinbase CEO confirms data breach: Users targeted by rogue support agents
The post Coinbase CEO confirms data breach: Users targeted by rogue support agents appeared on BitcoinEthereumNews.com.
Coinbase has shared a security incident about cybercriminals bribing its overseas customer support agents to access user data. According to the company’s official statement, the breach affected less than 1% of monthly transacting users and did not expose passwords, private keys, or provide access to customer funds. The attackers attempted to extort Coinbase for $20 million to prevent the release of the stolen information. Instead, CEO Brian Armstrong announced that the exchange would establish a $20 million reward fund for information leading to the arrest and conviction of those responsible. Attackers target and compromise customer support The security breach happened when cybercriminals targeted Coinbase’s worldwide customer support activities. They offered agents cash bribes to reproduce information from customer support aids. According to the firm’s report, the attackers accessed several types of customer data, including names, addresses, phone numbers, and email addresses. They also accessed masked Social Security numbers (last four digits), masked bank account numbers, some bank account identifiers, government ID photos such as driver’s licenses and passports, snapshots of account balances, and transaction histories. https://t.co/evpIBMFvRW pic.twitter.com/f6UPdkL5R0 — Brian Armstrong (@brian_armstrong) May 15, 2025 Apart from that, sanctioned corporate data was also utilized by the attackers. These include reports, training materials, and communications that were given to aid agents. However, Coinbase reiterated that the attack did not violate a number of fundamental information categories. Armstrong addressed the hackers, who attempted to blackmail Coinbase for a payment of $20 million in exchange for not releasing the stolen information in his video. “I’m going to respond publicly to these attackers by saying no, we are not going to pay your ransom.” Coinbase launches mitigation measures Coinbase issued a detailed report of the security incident. This encompasses short-term consumer protections and longer-term security enhancements. Coinbase pledged to “make customers whole” by reimbursing users…
