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20 million dollars chase to thieves

20 million dollars chase to thieves

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Coinbase, the largest US cryptocurrency exchange, announced in May 2025 a significant data injury that concerns less than 1% of its users. Hacker bribed overseas support agents to steal personal data and asked Coinbase to offer a bonus of $ 20 million for information that leads to the arrest of the culprit. The company could pay the company up to 400 million US dollars and concerns about central exchange security.

400 million USD Coinbase Breach meets less than 97,000 users

On May 15, 2025, Coinbase revealed a large cyber security incident with the theft of personal data from a small subset of its customers, which was estimated to be less than 1% of its monthly transaction users (MTUS), based on the company reported by the company in March 2025.

Hackers organized the violation by bribing and recruiting villains in overseas support agents and contactors, the sensitive information, including names, telephone numbers, addresses, state IDs, partly social security numbers and account details. No Passwords, private keys or means were impairedAnd the main accounts of Coinbase remained unaffected. The company estimates that the financial effects could be between 180 and 400 million US dollars and cover the reimbursements of the customers and the restoration efforts.

Read more: Coinbase in the RUG scandal of 15 million US dollars RUG -Pull scandal caught -is the basis still safe?

The attackers called for a ransom of 20 million US dollars to withhold the stolen data from the publication that Coinbase refused. Instead, the stock exchange released the employees involved, announced plans to raise criminal charges and set up a 20 million dollar reward fund for information that led to the arrest and convict of the perpetrators.

Coinbase Security Breach Scandal: 20 million US dollars hunting for data thieves

Coinbase's safety success balance sheet under control

This violation contributes to Coinbase's history of the security challenges.

Read more: Is Coinbase safe?

The exchange was exposed to earlier incidents, including a hack of 2021, which affects over 6,000 users, in which Hacker is a mistake in the SMS-based two-factor authentication (2FA) through phishing fraud and an attempt by the Octopus hacker group 2023, which did not have compromises in the users.

Despite robust safety measures, which stores 98% of assets in offline cooling stores, the encryption of the AES-256 and the insurance for hot brief bags HAT Coinbase with technical problems such as server crashes during high travelloses and vulnerabilities of the Account Recovery. These incidents drive the skepticism of the users, with some registration resources receiving timely support.

Coin base

The violation of 2025, which is more due to insider threats than a direct system hack, underlines the risks of the human error in centralized exchange. Techcrunch reported that the Hackers aimed at support employeestake advantage of your access to sensitive systems. This tactic reflects a phishing attack 2023 connected to the 0KTAPUS group, which briefly affects the systems of Coinbase.

According to Blockchain investigator ZackxBT, over 45 million US dollars from Coinbase users were stolen from social engineering fraud in early May 2025. These incidents suggest that groups for organized crime are increasingly targeting crypto platforms and their users.

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