In a major security breach, Coinbase, one of the world’s largest crypto exchanges, revealed it was targeted in a sophisticated cyberattack potentially costing up to $400 million. Hackers accessed less than 1% of customer data by bribing contractors and employees, then used that information for phishing scams to steal crypto assets.
Coinbase refused a $20 million ransom and is instead reimbursing affected users while offering a $20 million reward for information about the attackers. This comes just days before Coinbase’s entry into the S&P 500, underscoring the high-stakes cybersecurity risks in the crypto world.
With $2.2 billion stolen from crypto businesses in 2024 alone, this incident serves as a stark reminder: security is no longer optional—it's survival.
Call to Action for Binance Users:
Never share your credentials.
Stay alert for fake emails or wallet requests.
Report suspicious activity immediately.
