Coinbase CEO Brian Armstrong mentioned in a social media submit Thursday {that a} ransom notice arrived by way of electronic mail asking for $20 million in Bitcoin in alternate for not releasing info hackers had obtained on Coinbase’s prospects.
“I will reply publicly,” Armstrong mentioned. “We aren’t going to pay ransom.”
https://t.co/evpIBMFvRW pic.twitter.com/f6UPdkL5R0
— Brian Armstrong (@brian_armstrong) Might 15, 2025
Armstrong mentioned attackers had discovered a “weak hyperlink” customer support agent exterior the U.S. who accepted a “bribe” and gave away private information on prospects.
In an organization weblog submit, Coinbase mentioned it would reimburse prospects 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 photos (driver’s licenses, passports). No passwords or personal keys have been obtained, the corporate says. The e-mail arrived on Sunday.
Associated: Assume You Can Hack Into Apple Intelligence Servers? Apple Is Paying As much as $1 Million If You Can.
“(The stolen information) permits them to conduct social engineering assaults the place they’ll name our prospects impersonating Coinbase buyer assist and attempt to trick them into sending their funds to the attackers,” Armstrong mentioned.
Per the AP, Coinbase estimated in a submitting with the SEC that it might find yourself spending wherever between $180 million and $400 million “regarding remediation prices and voluntary buyer reimbursements regarding this incident.”
In the meantime, the New York Instances 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 mentioned in a social media submit Thursday {that a} ransom notice arrived by way of electronic mail asking for $20 million in Bitcoin in alternate for not releasing info hackers had obtained on Coinbase’s prospects.
“I will reply publicly,” Armstrong mentioned. “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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