coinbase

Coinbase, the largest cryptocurrency exchange in the United States, has confirmed a major data breach from December 2024 that exposed sensitive personal information of 69,461 users. Hackers demanded a $20 million ransom to prevent the leaked data from being published on the dark web.
The scale of the attack was disclosed in a filing with the Maine Attorney General. Although Coinbase stated that less than 1% of its global user base was impacted, the breach has triggered multiple federal investigations and potential lawsuits regarding the company’s handling of the incident.

💼 Hackers Bribed Foreign Support Agents to Gain Access
According to Coinbase and sources familiar with the matter, the breach was made possible through social engineering, not through technical vulnerabilities. Attackers targeted customer support agents working overseas — specifically in India — and bribed them with cash in exchange for access to internal systems.
This gave hackers access to personal information, including names, addresses, dates of birth, nationalities, government-issued IDs, banking details, account balances, and KYC-related data. While passwords, private keys, and crypto funds were not compromised, cybersecurity experts warn that such information can still be used for identity theft, impersonation, and fraud.

🕵️‍♂️ Ransom Demands and Delayed Disclosure
Coinbase revealed it received an anonymous ransom email on May 11, several months after the breach took place on December 26. The attackers threatened to leak the stolen information online unless the company paid a $20 million ransom — a demand that Coinbase ultimately refused.
The company stated that it had already identified and dismissed the employees involved in the incident and is fully cooperating with U.S. authorities, including the Department of Justice, which has launched a criminal investigation.

📢 Public Backlash Over Coinbase’s Silence
The company’s delayed disclosure has sparked widespread criticism. Tech investor and TechCrunch founder Michael Arrington condemned Coinbase’s timing, arguing that real people could already be suffering consequences from the breach.
“This has likely already caused harm,” Arrington wrote on X. “The damage can’t just be measured in dollars — it’s measured in human suffering.”

He also criticized existing KYC (Know Your Customer) rules, claiming they provide a false sense of security while exposing users to unnecessary risk. Arrington called for stronger data protection laws and corporate accountability.
“Governments and corporations need to act. The cost of inaction is human suffering,” he added.

💸 Potential Losses Could Top $400 Million
Coinbase estimates the fallout from the breach could cost between $180 million and $400 million, including customer reimbursements, legal expenses, and increased security measures.
Mike Dudas, managing partner at Web3 venture firm 6MV, believes he may be among those affected. He called the breach “a staggering leak of personal data,” warning that the consequences may extend beyond identity theft and include intimidation or blackmail of high-profile figures in the crypto industry.

💬 As crypto companies scale globally, are they doing enough to protect sensitive user data from insider threats?

#CyberSecurity , #CryptoNewss , #Cryptoscam , #CryptoFraud , #coinbase

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Listen, there's a pretty tough story that's worth discussing. Recently, the Coinbase crypto exchange suffered a major data leak, and this is not just another case from the world of cybersecurity. This situation, according to TechCrunch founder Michael Arrington, can lead to deaths. And he doesn't seem to be exaggerating.
What happened?
Hackers broke into Coinbase and gained access to very sensitive information: home addresses, phone numbers, account balances, photos of identity cards and other user data. After that, they tried to blackmail the company, demanding $20 million in bitcoins. Coinbase refused to pay, and instead announced a reward of the same $20 million for information about criminals.
The exchange also promised to reimburse customers who were tricked into transferring funds by fraudsters. The U.S. Department of Justice has now taken over the case.
But what's really disturbing is that this data can already be used for violence.
Why is it dangerous?
Arrington (by the way, he is an investor in Coinbase himself) claims that a leak of this magnitude is not only about money, it is a direct threat to lives. He recalled that in recent months, cases of kidnapping for cryptocurrencies have become more frequent in Europe and the United States.:
Ledger's co-founder was abducted and tortured in France.
Popular blogger Amurant was robbed right at her house.
The father of a cryptomillionaire had his finger cut off to gain access to his wallet.
Relatives of cryptographers were abducted and threatened with weapons.
Now imagine that someone has a database with names, addresses, and crypto balances. It's literally a list of goals. And if earlier such cases were isolated, now, after hacking, it can become a systemic problem.
And who is to blame?
This is where the argument begins. Arrington believes that company executives should be criminally liable if they failed to protect such data. According to him, the laws should be tougher, otherwise such cases will be repeated over and over again.
But the former CTO of Coinbase, Balaji Srinivasan, says that the problem is deeper — in government regulation. This is what forces companies to collect and store KYC data ("Know your customer"), which users often do not want to transfer at all. He believes that the way out is to decarbonize KYC through technologies like zero—knowledge proofs, where personal data is not transmitted directly at all.
And now what?
Coinbase is cooperating with the authorities, the investigation is underway. But the crypto community is tense. Because we are no longer talking about the loss of funds, but about the fear for the safety of our own and our loved ones.
So the question is: how much would you trust the exchange if you knew that your data could be a reason for an attack? And isn't it time to rethink how KYC platforms work?
#coinbase #CryptoNewss #crypto #cryptocurreny

In crypto, there’s rarely a dull moment — and the latest bombshell could seriously reshape the stablecoin space.

Ripple and Coinbase are reportedly in a heated race to acquire Circle, the company behind the second-largest stablecoin, USDC. The deal could be worth as much as $11 billion, and the implications are massive.

If Ripple succeeds, they wouldn't just be buying a company — they’d be snapping up control of a major dollar-backed asset and positioning themselves as a dominant player across multiple blockchains. Naturally, that’s raising more than a few eyebrows.

Trouble Ahead?

Gabriel Shapiro, founder of MetaLeX Labs, is sounding the alarm. He called the idea of Ripple becoming the top issuer of stable assets “disastrous and anticompetitive.” In his view, regulators are likely to step in if Ripple signs a definitive agreement.

He didn’t mince words: “If this happens, we’re heading straight to the DOJ and FTC,” Shapiro warned, citing Ripple’s past conduct — including its public campaigns targeting Bitcoin and Ethereum.

Shapiro referenced Ripple’s 2022 move with Greenpeace to criticize Bitcoin mining, which many viewed as an attempt to undermine competitors. He also said Circle’s board should consider the antitrust implications and the legal obligation to protect shareholders, known as the Revlon doctrine.

A Price War and XRP Strategy

According to sources, Ripple first tried to buy Circle earlier this year with a $4-$5 billion offer, which Circle rejected. Now, Ripple’s reportedly back with a bigger war chest — possibly combining cash with a portion of its $94 billion in XRP holdings (though using those tokens may require court approval).

Meanwhile, Coinbase has plenty of liquidity — over $8.5 billion in cash and another $2.8 billion in crypto — but it hasn’t made a formal offer yet, leading some to question their game plan.

Who Will Win — Ripple, Coinbase, or a Third Player?

While Ripple is clearly the aggressor, regulatory pushback could work in Coinbase’s favor. Insiders suggest that if Coinbase made a move, Circle’s leadership might be quicker to accept it, given the smoother road with U.S. regulators.

And don’t count out a wildcard. SBI Holdings, a Japanese financial giant with strong XRP ties, could swoop in with support or its own offer.

Whether Ripple succeeds or not, this acquisition chase could redefine the stablecoin market. But as Shapiro warned, the outcome might not be pretty.

One thing is clear: the crypto space is watching closely.

Let me know if you’d like to add commentary, SEO keywords, or tailor this to a specific audience.
#ripple #USDC #BTC走势分析 #ETC
#coinbase

Big news is shaking the crypto world! 🌐 Ripple has reportedly doubled its offer to buy Circle (the company behind the USDC stablecoin) from $5 billion to $11 billion 💸. This bold move comes as Coinbase also enters the race to acquire Circle ⚔️.

Why is Circle So Valuable?
Circle’s stablecoin USDC is a huge asset in the crypto space, with a market cap of $61 billion 🪙. Owning USDC could give any company a strong position in the digital currency market 🚀.

Ripple’s Strong Wallet
According to reports, Ripple holds over $10.72 billion in XRP and has $87.25 billion more locked in escrow 🔐. This gives Ripple a financial edge in the bidding war 💪.

Coinbase Isn’t Backing Down
Coinbase, with $8 billion in cash and the ability to raise funds as a public company 📈, is also a serious competitor. It might use a mix of cash and stock to make its offer more attractive 💼.

Is Circle Even Selling?
Interestingly, Circle hasn’t confirmed if it even wants to sell 🧐. The company is focusing on long-term goals, including a possible IPO 📊, and has strong backing from giants like JPMorgan and Citi 🏦.
So the question is:
Who will win this crypto bidding war – Ripple or Coinbase? ⚖️
#Ripple #Coinbase #USDC #CryptoNews
#xrp

Ripple Doubles Its Bid to $11B to Acquire Circle — But Coinbase Wants In Too!

The crypto world is abuzz with rumors that are hard to ignore. Ripple has reportedly increased its offer to acquire Circle, the company behind the USDC stablecoin, from $5 billion to an impressive $11 billion.

Although neither company has officially confirmed the news, the potential deal is raising major questions: Is Ripple making a strategic masterstroke, or is this a sign of desperation?

Why Is Ripple Pursuing Circle?

Last month, Ripple is said to have made a $4–5 billion offer for Circle, which was declined. Now, with increasing competition—particularly from Coinbase, which may also be preparing an acquisition bid—Ripple appears to have doubled down with a revised offer totaling $11 billion.

If confirmed, this would mark one of the most significant acquisition attempts in the crypto space since the FTX collapse.

A key motivator behind Ripple’s interest is Circle’s USDC, a regulated stablecoin with a market capitalization of $61 billion, positioning it as a prime asset within the digital asset ecosystem.

Adding to the momentum is a favorable regulatory climate in the U.S. under the Trump administration, which is notably hosting a Crypto Dinner for the top 220 holders of the TRUMP meme coin.

Ripple’s Financial Strength

According to Ripple’s Q1 2025 Markets Report, the company holds a substantial amount of XRP—approximately 4.56 billion XRP valued at $10.72 billion. It also controls an additional 37.13 billion XRP in escrow, worth approximately $87.25 billion. These reserves give Ripple significant financial leverage to pursue high-stakes acquisitions.

Angel investor Paul Barron is among those who believe Ripple has the advantage over Coinbase. He recently stated that Ripple may be positioning its bid between $9 billion and $11 billion to stay ahead in the race.

BREAKING: @Ripple and @coinbase now in bidding war for @circle – Sources say @ripple has the upper hand at a 9–11 Billion price tag. #XRP #USDC #CRYPTO

— PaulBarron (@paulbarron) May 19, 2025

Coinbase’s Strategic Interest

Coinbase is not staying on the sidelines. With $8 billion in cash reported in Q1 2025, Coinbase has the financial capacity to challenge Ripple. As a public company, it also has the advantage of being able to raise additional capital through equity markets.

This financial flexibility means Coinbase could put forward a competitive offer using a mix of cash and stock.

Is Circle Open to Acquisition?

This is where things become less clear. Circle has not confirmed any interest in being acquired. On the contrary, it has consistently communicated a long-term vision, including plans for a public IPO. With strong backing from institutions like JPMorgan and Citi, Circle is in a position to be selective or even dismissive in negotiations.

It’s possible Circle is considering offers to boost its valuation or gain strategic insights from its competitors.

#CRYPTO #Coinbase #Ripple

$TRUMP

$USDC

$XRP

The Coinbase hack saga continues following a breaking development about the US Justice Department’s plans to open an investigation into the data breach against the top crypto exchange.
This follows the company’s debut on the S&P 500, with the COIN stock price closing the day in the red.
US Justice Department To Investigate Coinbase Hack
According to a Bloomberg report, the US DOJ has opened a probe into the recent data breach at crypto exchange Coinbase.
Investigators, including those in the department’s criminal division in Washington, are reportedly digging into the events that led to the breach.
As we reported last week, the top crypto exchange suffered a cyberattack. The criminals allegedly bribed and recruited rogue customer service agents overseas to gain access to users’ personal data.
The company claimed that the hackers didn’t gain access to any sensitive data. Meanwhile, the exchange promised to reimburse affected customers of the Coinbase hack.
Additionally, they launched a $20 million reward to track down the exploiters, who had blackmailed them for the said amount in exchange for not releasing the data.
The Coinbase data breach affected top executives, including Sequoia Capital’s Roelof Botha. Meanwhile, exchanges Binance and Kraken reportedly also faced similar incidents.
Crypto millionaires have moved to hire bodyguards following the hack. The exchange is also facing up to six lawsuits due to the compromised user personal data.
Exchange Debuts On S&P 500
Amid the launch of the probe into the Coinbase hack, the exchange debuted on the S&P 500 today, becoming the first and only crypto company to achieve this milestone.
We also reported last week that the crypto exchange would replace Discover Financial Services, following Capital One’s acquisition of the latter.
Despite the debut, the COIN stock price closed the day in the red, trading at around $263.
The stock rebounded to this price level last Friday following the crash on May 15 due to reports of the data breach and the ongoing SEC investigation into alleged misleading user numbers in past disclosures.
The exchange’s Chief Legal Officer, Paul Grewal, confirmed that they are cooperating with the SEC on the investigation, although he believes it shouldn’t continue.
Meanwhile, concerning the Coinbase hack, Grewal also revealed that they have notified and are working with the DOJ and other US and international law enforcement agencies.

#CoinbaseExchange. #coinbase #Hack #Hacked #HackerAlert

Another day, another seismic shake-up in crypto — and this time, it’s not coming from the charts, but from the boardroom.

Ripple and Coinbase are now battling over a game-changing prize: Circle, the company behind stablecoin giant USDC. The price tag? Up to $11 billion — and the implications? Massive.

If Ripple pulls off this acquisition, it would gain dominance over one of the largest dollar-backed stablecoins in the world, instantly becoming a major force across multiple blockchains.

But not everyone’s cheering.

MetaLeX Labs’ Gabriel Shapiro didn’t mince words, warning that the deal would be “disastrous and anticompetitive.” He claims it would give Ripple too much control and reignite regulatory alarms. Citing Ripple’s past efforts to undermine competitors, he added:

> “Making Ripple the largest asset issuer on every blockchain would obviously be disastrous… If a definitive agreement is signed, we’ll be at the FTC’s doorstep.”

Inside the Bidding War:

Ripple’s original offer was reportedly $4–5B — rejected.

New bid: potentially $11B, partly funded by Ripple’s $40B+ in XRP reserves.

Coinbase is sitting on $8.5B in cash — but hasn’t made a firm offer yet.

Regulators are expected to scrutinize Ripple harder due to past conflicts.

What Happens to Circle?
Analysts say Circle might favor Coinbase for smoother U.S. regulatory alignment — but a wildcard like SBI Holdings (a longtime XRP backer) could enter last-minute.

Why This Matters for You:
A Ripple-Circle merger could drastically shift stablecoin power, ripple through DeFi liquidity, and even impact what tokens dominate cross-chain platforms.

Binince Watchlist:

Monitor USDC volumes and liquidity trends.

Expect volatility in XRP, USDC pairs and stablecoin alternatives.

Regulatory news will be a key price mover in the coming weeks.

Stay sharp. This could be a pivotal moment for the future of stablecoins — and crypto as a whole.

#BininceInsight #RippleCircle #USDC #XRP #Coinbase #CryptoMergers #MetaLeX
$BTC

The U.S. Department of Justice (DOJ) has launched a criminal investigation into a major data breach at crypto exchange Coinbase, which occurred last week. According to early findings, the attack involved bribed insiders in India, who helped steal sensitive customer data and delivered a $20 million ransom demand.

High-Profile Data Compromised — Even Sequoia’s Roelof Botha Targeted
Among the affected individuals was Roelof Botha, managing partner at Sequoia Capital and a well-known member of the “PayPal mafia,” alongside Elon Musk and Peter Thiel. Hackers reportedly accessed personal information tied to his Coinbase account, including his phone number, residential address, and other confidential data.
Bloomberg reports that attackers relied on social engineering tactics, deceiving people rather than hacking computer code. Support staff based outside the U.S. downloaded data from Coinbase's internal systems. These individuals have since been terminated.

Coinbase: Damages Could Reach $400 Million
Coinbase said it received the ransom demand via email on May 11. The company estimates that the fallout from the breach could cost as much as $400 million, including system recovery and new security measures.
Coinbase’s Chief Legal Officer Paul Grewal stated that the firm has notified the DOJ and other U.S. and international authorities:
“We are fully cooperating and welcome efforts to bring the perpetrators to justice.”

Coinbase Faces Crisis on the Brink of Major Milestone
Ironically, the breach occurred just days before Coinbase is set to be added to the S&P 500 index, a historic milestone for the crypto industry. Despite the breach, analyst optimism and the inclusion announcement sent Coinbase shares up by 20%.
The incident underscores how the rising profile of crypto exchanges attracts increasing attention from cybercriminals, even as Wall Street embraces digital asset firms. Officials say the investigation is still ongoing and could take several more months.

#coinbase , #CryptoSecurity , #CyberSecurity , #CryptoNewss , #CryptoScamAlert

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“