Coinbase, the largest U.S. crypto exchange, recently faced a major cyberattack where hackers bribed overseas support agents to access user data. While only a small subset of customers were affected, sensitive details like names and partial SSNs were compromised. The attackers demanded a $20 million ransom, which Coinbase refused, instead offering a $20 million bounty for leads on the culprits. As a result of the breach, Bitcoin saw a dip, falling nearly 4% from $105,493 to around $101,000, as investor confidence wavered. The incident is expected to cost Coinbase up to $400 million in damages and user reimbursements. This cyberattack reminds the entire crypto community of the urgent need for stronger security. Expect some volatility in BTC ahead.
