Cyber Attack Could Cost Crypto Exchange Up To $ 400 Million

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Coinbase Global shares fell more than 7% on Thursday (15/5/2025) after the Cyber Attack. The customers may lose money ๐Ÿ’ฐ about $ 400 million. The company's asset is estimated about $ 328 Billion. The stolen account data included names, addresses, phone ๐Ÿคณ numbers, emails, and government ID ๐Ÿชช๐Ÿ†” images. However the Coinbase company didn't compromise the Passwords and Private Keys ๐Ÿ—๏ธ. It is a regulatory mechanism or measure. The hackers paid multiple contacts and employees working in support roles outside US to obtain the information.

Bribe - Cybercriminals recruited hackers and bribed a group of rogue agents to steal Coinbase customers data to facilitate social engineering attacks.

An online platform (unknown hacker) threats the Coinbase to pay $ 20 Million Ransom, as they were having information of data of customers. Coinbase filed a complaint with the law enforcement agencies.

Coinbase will reimburse customers that were tricked and cheated by hackers. The Remediation costs range from $ 180 million to $ 400 million.

Reward - Coinbase is offering a $ 20 Million reward for information โ„น๏ธ leading to the assets and conviction of those responsible for the cyber attacks. The Coinbase might sue USEC and FDIC for leaking of Data thereof.