🛡️ $400M COINBASE HACK TRACED TO INDIA-BASED EMPLOYEES 📸🇮🇳

Insider Breach Shakes Crypto Giant – Employees Caught Leaking Data via Phone Camera!

Source: Coinbase Official

🔍 What Happened?

Date of Breach: January 2025

Employees Involved: 2 outsourced staff from TaskUs (Indore, India)

Method: One employee was caught using a personal smartphone to photograph sensitive Coinbase customer data

Motivation: Employees were bribed by cybercriminals to leak customer info

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💣 The Fallout:

Over 226 employees removed from Coinbase-related tasks in Indore

Breached data may include:

👤 Full names & email addresses

🏦 Partial account numbers

🔒 Masked Social Security details

Estimated Financial Impact:

💸 Coinbase: $180M – $400M in potential losses (customer reimbursements, legal, and remediation costs)

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🧑‍⚖️ Legal Consequences:

Class-action lawsuit filed against TaskUs for data mishandling

Coinbase swiftly terminated all involved employees and overseas agents

New internal policies were enforced to avoid future leaks

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🔐 Industry Takeaway:

> “This breach is a wake-up call for all crypto companies relying on third-party vendors for sensitive data handling.” – Security Analyst

📉 Emphasizes outsourcing risks

🚨 Demands stronger cybersecurity protocols

🛑 Need for zero-tolerance policies against insider threats

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📊 Coinbase (COIN) Stock Snapshot:

💹 Current Price: $259.39 (+1.32%)

📈 Intraday High: $265.51

📉 Low: $253.25

📦 Volume: 5.2M shares

🕓 Updated as of June 5, 2025 – 16:29 UTC

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📎 Sources:

Reuters Report

Times of India Coverage

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🔔 Stay Secure. Stay Informed.

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