{"id":12090,"date":"2025-05-15T13:49:33","date_gmt":"2025-05-15T11:49:33","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=12090"},"modified":"2025-05-15T13:49:33","modified_gmt":"2025-05-15T11:49:33","slug":"coinbase-rejects-20-million-ransom-demand-following-data-breach-of-support-agents","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/05\/15\/coinbase-rejects-20-million-ransom-demand-following-data-breach-of-support-agents\/","title":{"rendered":"Coinbase Rejects $20 Million Ransom Demand Following Data Breach of Support Agents"},"content":{"rendered":"

“`html
\n<\/p>\n

\n

Coinbase, the globe’s third-largest digital currency exchange, experienced a $20 million blackmail attempt after cybercriminals engaged overseas support personnel to expose user information, the firm revealed.<\/p>\n

As<\/a> stated in a May 15 blog article, Coinbase reported that a collective of outside individuals bribed and collaborated with multiple customer support contractors to infiltrate internal systems and obtain restricted user account information.<\/p>\n

\u201cThese insiders exploited their access to customer support systems to pilfer the account information for a limited group of clients,\u201d Coinbase noted, emphasizing that no passwords, private keys, funds, or Coinbase Prime accounts were compromised.<\/p>\n

Fewer than 1% of Coinbase\u2019s monthly active users\u2019 information was impacted by the incident, the organization declared.<\/p>\n

Source: <\/em>Coinbase<\/em><\/a><\/figcaption><\/figure>\n

Following the theft of data, the assailants tried to extort $20 million from Coinbase in return for keeping the breach confidential. Coinbase rejected the request.<\/p>\n

Related: <\/strong><\/em>Ukraine\u2019s strategic Bitcoin reserve legislation reportedly nearing completion<\/strong><\/em><\/a><\/p>\n

Instead, the organization proclaimed it would provide a $20 million bounty for information that leads to the apprehension and conviction of the individuals behind the plot.<\/p>\n

Fraudsters frequently disguise themselves as well-known brands to foster a deceptive sense of confidence in their targets.<\/p>\n

US brands most frequently impersonated by scammers. Source: <\/em>Mailsuite<\/em><\/a><\/figcaption><\/figure>\n

In 2024, Coinbase was the<\/a> most impersonated digital currency brand among fraudsters.<\/p>\n

This is a developing narrative, and additional details will be added as they emerge.<\/p>\n

Related: <\/strong><\/em>Leading South Korean presidential contenders endorse the legalization of Bitcoin ETFs<\/strong><\/em><\/a><\/p>\n