Coinbase Hacker Mocks ZachXBT After $42M Bitcoin Move
The cybercriminal behind a major Coinbase user breach taunted blockchain investigator ZachXBT via an Ethereum transaction on Wednesday, embedding the phrase “L bozo” and linking to a meme video of NBA Hall of Famer James Worthy. The message was a public dig at ZachXBT, who had recently identified the hacker as the party behind the Coinbase breach.
Coinbase disclosed the December 2024 breach on May 11, 2025, confirming that data from over 69,000 accounts was stolen. The hackers demanded a $20 million ransom, which Coinbase refused, instead offering the same amount as a bounty for their capture.
On Tuesday, the attacker began liquidating funds, converting 17,800 ETH—worth $44.94 million—into DAI stablecoins via THORChain. One transaction alone swapped 9,080 ETH for $22.82 million at an average of $2,528 per ETH.
The fallout has damaged Coinbase's reputation and finances, with losses projected between $180 million and $400 million. The breach coincided with the company's S&P 500 inclusion and follows warnings Coinbase allegedly ignored months earlier.
Meanwhile, Binance and Kraken also faced similar social engineering attempts but successfully thwarted the attacks using AI and strict internal controls.
Community leaders are encouraging affected users to take action and raise awareness as the crypto sector faces heightened scrutiny.