Coinbase data leak could put users in physical danger: TechCrunch founder
A data breach at Coinbase exposed sensitive user information, including home addresses, affecting less than 1% of its monthly users. The breach may cost Coinbase up to $400 million in reimbursements. Cybercriminals bribed customer service contractors to access internal systems, leading to the theft of data that could facilitate social engineering scams and extortion. Experts warn that leaked address data increases risks for high-net-worth individuals, with recent violent robberies targeting cryptocurrency investors. A notable incident involved the kidnapping of a French crypto entrepreneur's father for ransom. To enhance security, experts recommend a layered defense strategy for crypto exchanges, including privileged access management, zero trust architecture, and continuous monitoring. Social engineering attacks are identified as a significant threat, costing the industry over $1 billion in 2024.
