Coinbase Data Breach Targets High-Profile Clients, Including Sequoia’s Roelof Botha
Coinbase Global Inc., the leading US cryptocurrency exchange, reported a data breach compromising personal details of select customers, including Sequoia Capital’s Roelof Botha. The breach, potentially costing $400 million in remediation, involved hackers bribing customer service representatives in India to access sensitive data like names, addresses, and banking details.
The attackers demanded a $20 million ransom, which Coinbase rejected, instead offering a $20 million bounty for information leading to their arrest. Suspicious activity was detected in January, and some customers were notified last weekend of potential unauthorized access. Botha, a prominent venture capitalist and PayPal Mafia member, had his phone number and address exposed, indicating a focus on high-profile individuals.
The breach occurs as Coinbase prepares to join the S&P 500, highlighting growing cyber threats in the crypto industry. Chainalysis reported $2.2 billion stolen from crypto firms in 2024. In France, authorities are addressing rising kidnappings targeting crypto executives with enhanced security measures, following recent high-profile incidents. Coinbase, Botha, and Sequoia declined to comment.
