đ¨ Breaking: Coinbase Suffers Cyberattack, Promises Reimbursement
Coinbase has fallen victim to a cyberattack, becoming the latest casualty in the growing crypto hacks.
In an unusually targeted attack, the criminals allegedly bribed and recruited rogue overseas support agents to gain access to usersâ personal data.
Both Coinbase and its CEO, Brian Armstrong, issued statements outlining the impact and the countermeasures on Thursday morning.
The company claims that no sensitive data was breached, but the crypto exchange has pledged to reimburse any affected customers. In addition, the platform has launched a $20 million reward fund to track down the perpetrators.
Coinbase revealed the cyberattack on social media and shared that hackers targeted the personal data of Most Trusted Users (MTU). âNo passwords, private keys, or funds were exposed.
Prime accounts are untouched,â Coinbase wrote on X.
The hackers allegedly sent an email to the exchange, demanding a ransom to keep the stolen data under wraps.
In response to the threat, CEO Brian Armstrong shared a video post, firmly stating, âNo, we are not going to pay your ransom.â
Though they bribed customer support agents overseas, they failed to steal sensitive data, claims Coinbase.
Instead, they gained access to personal information, including customersâ names, addresses, and other contact details.
Brian suspected that the hackers could impersonate Coinbase executives to its users using the customer data gathered from the cyberattack.