Coinbase, the leading cryptocurrency exchange in the U.S., faced an 8% decline in stock value after revealing a cyberattack. Hackers obtained sensitive customer data by bribing overseas contractors and attempted a $20 million ransom. Although personal customer details were compromised, Coinbase assured its users that passwords and funds remained secure. The company is underwriting a $20 million reward for information leading to the hackers' capture while cooperating with law enforcement to investigate the breach, which may cost it up to $400 million to resolve the situation.
Coinbase stock dropped over 8% following a cyberattack where hackers bribed contractors to leak customer data, leading to potential costs of $400 million.
In an email threat, hackers demanded a $20 million ransom in Bitcoin, claiming they had obtained sensitive customer account information.
Despite the breach, Coinbase assured users their passwords and funds remained secure; only personal details like email and phone numbers were compromised.
Coinbase is actively cooperating with law enforcement while offering a reward for information that leads to the apprehension of those responsible.
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