Over 69,000 Users Affected in Coinbase December 2024 Data Breach — No Funds Lost, But Personal Info Compromised
San Francisco, May 21, 2025 — Coinbase, one of the world’s largest cryptocurrency exchanges, has confirmed that 69,461 users were affected in a previously undisclosed data breach that occurred in December 2024. The company revealed that while personal information was compromised, no passwords or funds were stolen.
The breach, which came to light following a recent internal review and third-party forensic analysis, involved unauthorized access to a third-party service Coinbase used for identity verification.
What Was Exposed:
According to Coinbase’s statement, exposed data may include users’ names, physical addresses, dates of birth, and partial social security numbers. The company emphasized that login credentials, crypto holdings, and password data remained secure and were not accessed by attackers.
Coinbase Responds:
In response, Coinbase has contacted all affected users directly and is offering free credit monitoring services. The platform also reported the incident to regulators and is cooperating with law enforcement agencies to investigate the breach.
“We take our responsibility to safeguard customer data very seriously,” a Coinbase spokesperson said. “While funds remain safe, we understand the concern this causes and are taking every step to reinforce our systems.”
Users Advised to Stay Alert:
Security experts are advising affected users to be cautious of phishing emails or identity theft attempts using the stolen data. Users should monitor their credit reports and consider placing fraud alerts on their accounts.
The Bigger Picture:
This breach is a stark reminder of the risks even top-tier crypto platforms face when relying on third-party services for KYC (Know Your Customer) and identity verification. As the industry grows, so does the need for stronger data protection protocols and transparency.
Stay tuned for more updates as this story develops.
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