Coinbase CEO Brian Armstrong stated in a social media publish Thursday {that a} ransom word arrived through e-mail asking for $20 million in Bitcoin in alternate for not releasing data hackers had obtained on Coinbase’s clients.
“I’ll reply publicly,” Armstrong stated. “We aren’t going to pay ransom.”
https://t.co/evpIBMFvRW pic.twitter.com/f6UPdkL5R0
— Brian Armstrong (@brian_armstrong) Might 15, 2025
Armstrong stated attackers had discovered a “weak hyperlink” customer support agent outdoors the U.S. who accepted a “bribe” and gave away private knowledge on clients.
In an organization weblog publish, Coinbase stated it’s going to reimburse clients tricked into sending funds to the attacker. Hackers obtained entry to names, addresses, cellphone numbers, and emails; masked Social Safety numbers (final 4 digits solely); masked financial institution‑account numbers; and authorities‑ID photographs (driver’s licenses, passports). No passwords or non-public keys had been obtained, the corporate says. The e-mail arrived on Sunday.
Associated: Suppose You Can Hack Into Apple Intelligence Servers? Apple Is Paying As much as $1 Million If You Can.
“(The stolen knowledge) permits them to conduct social engineering assaults the place they’ll name our clients impersonating Coinbase buyer help and attempt to trick them into sending their funds to the attackers,” Armstrong stated.
Per the AP, Coinbase estimated in a submitting with the SEC that it might find yourself spending anyplace between $180 million and $400 million “referring to remediation prices and voluntary buyer reimbursements referring to this incident.”
In the meantime, the New York Occasions studies that the SEC is individually investigating Coinbase over whether or not or not it reported inaccurate numbers throughout its IPO in 2021. The corporate claimed to have greater than 100 million “verified customers” in advertising and marketing supplies.
Coinbase’s inventory dropped 7% on Thursday after the information, per Yahoo.
Associated: Over 10 Billion Passwords Have Been Uncovered within the Largest Password Hack in Historical past
Coinbase CEO Brian Armstrong stated in a social media publish Thursday {that a} ransom word arrived through e-mail asking for $20 million in Bitcoin in alternate for not releasing data hackers had obtained on Coinbase’s clients.
“I’ll reply publicly,” Armstrong stated. “We aren’t going to pay ransom.”
https://t.co/evpIBMFvRW pic.twitter.com/f6UPdkL5R0
— Brian Armstrong (@brian_armstrong) Might 15, 2025
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