Coinbase Could Pay Customers Up to $400M for Data Breach

The exchange fired staff involved in the breach on the spot and will press criminal charges.

What to know:

Coinbase (COIN) revealed that user data was breached by a group of rogue support agents that were "bribed" by cyber criminals.

The revelation comes after on-chain sleuth ZachXBT claimed that Coinbase users had lost $300 million to social engineering scams.

The exchange added that it will reimburse any impacted users.

Coinbase (COIN) expects to pay $180 million to $400 million to customers for a data breach on its platform, which saw attackers gains access to users personal information.

The breach occurred on May 11, according to the firm. Attackers were able to access customers personal details, such as name, address, phone number, masked social security number, masked bank account numbers and other crucial details.

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