Investing.com - Coinbase Global Inc (NASDAQ:COIN) announced just now, on Thursday, that it expects to incur costs ranging from $180 million to $400 million as a result of a cyberattack it recently experienced.
The company confirmed that account data – including names, addresses, and emails – was stolen from a small group of users, but the attackers did not gain access to login data or passwords.
Confirmations after months of previous warnings
This official confirmation from Coinbase comes three months after the on-chain investigator 'ZachXBT' published claims that Coinbase users lost $300 million due to social engineering scams.
The platform also mentioned that the attackers obtained images of government ID cards, account balances, and data related to companies, but confirmed that two-factor authentication (2FA) codes and private keys were not compromised.
Immediate actions against the involved employees
Coinbase immediately suspended the employees involved in the breach and informed the relevant U.S. and international authorities, confirming its intention to take legal action and file criminal charges against those involved.
Compensation for the affected and confirmation of an internal breach
Coinbase stated: "We will compensate the customers who were tricked into sending money to the attacker."
The company explained that cybercriminals were able to carry out this attack after they "bribed and recruited a group of involved technical support agents," which facilitated the theft of user data.
In a post on its official blog, Coinbase reiterated its commitment to compensate customers who were deceived, and announced a reward of up to $20 million for information leading to the arrest of the attackers.
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