Coinbase refused to pay a ransom in bitcoins to scammers who threatened to leak data. Hackers gained access to personal customer data, including identification, transactions, names, bank accounts, and social security numbers, thanks to support agents who were bribed. Despite threats of information disclosure, Coinbase assures that the breach affected less than 1% of users and that private keys and passwords remained secure. The exchange refused to pay the scammers $20 million and reported the incident to law enforcement and the SEC. Estimated costs for investigation and enhanced security could reach between $180 million and $400 million. Coinbase also reported plans to buy bitcoins for the long term, but later abandoned the idea to avoid competing with traders. This incident highlights the importance of cybersecurity and trust in the crypto industry.
