In May 2025, Coinbase, the largest U.S. cryptocurrency exchange, disclosed a cyberattack costing an estimated $180-$400 million. Hackers bribed overseas support agents to steal personal data, including names, addresses, emails, and partial financial details, from a small subset of customers. No passwords, private keys, or funds were directly compromised, and Coinbase Prime accounts remained unaffected. The attackers, who had access since January, demanded a $20 million ransom, which Coinbase refused, instead offering a $20 million reward for information leading to their arrest. The company fired involved employees, enhanced security measures, and pledged to reimburse affected customers. This breach, alongside a separate SEC probe into user figure reporting, caused a 7% share drop. The incident highlights ongoing crypto industry vulnerabilities, following a 2024 hack costing $2.2 billion and a 2021 Coinbase breach affecting 6,000 users.

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