Coinbase is currently dealing with a significant security breach where some of its international support staff were allegedly bribed to leak sensitive information to cybercriminals. This led to a ransom demand of $20 million by the attackers, which Coinbase has decided against paying, instead opting to offer a $20 million reward for information that may lead to the perpetrators' arrest. Although the stolen data includes personal information like names, addresses, and customer transaction histories, Coinbase assures that customers' funds were never at risk during the incident.
Coinbaseâs response to the ransomware threat includes a strategy to offer a reward for information leading to the attackersâ apprehension rather than yielding to extortion.
The company emphasizes that the compromised data does not include passwords or private keys but contains sensitive customer information such as names and addresses.
Despite confirming the breach of data, Coinbase reassures that customers' funds remain safe during this cyber incident.
Insider involvement is highlighted in the breach, as `insiders bribed to steal information` provide the data to cybercriminals.
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