The third largest cryptocurrency exchange in the world, Coinbase, announced that it expects losses ranging between $180 million and $400 million due to a cyberattack that breached the data of a "small group" of its customers.
The company received an email from an unknown threat actor on May 11, claiming to possess information about certain customer accounts, as well as internal documents.
Coinbase confirmed that although some data was stolen - including names, addresses, and email messages - the hackers were unable to access login credentials or passwords. However, Coinbase will compensate customers who were tricked into sending money to the attackers.
The hackers paid money to several contractors and employees working in support roles outside the United States to gather information. The company stated that it has fired those involved.
Paul Grewal, Chief Legal Officer at Coinbase, stated: "This is an ongoing investigation by the previous management regarding the scale we stopped reporting on two and a half years ago, which has been fully disclosed to the public.
