Coinbase breach hit almost 70k users — Attorneys
A data breach at Coinbase affected nearly 70,000 users, with 69,461 accounts compromised, including 217 in Maine. The breach occurred on December 26, 2024, but was not discovered until May 11, 2025. Coinbase faces multiple lawsuits for failing to promptly notify affected users. The breach resulted in $400 million in losses due to social engineering scams and remediation costs. Scammers obtained user information through a ransom attempt, demanding $20 million but were refused by Coinbase. The company terminated contractors involved and offered remediation to impacted clients. Following the breach, Coinbase's shares dropped by 7%. The DOJ has initiated an investigation into the incident, highlighting concerns about the safety of crypto investors due to potential extortion and physical threats stemming from data leaks.
