Coinbase Turns Tables on Would-Be Extortionists, Offers $20M Bounty for Information
Cybercriminals attempted to extort Coinbase for $20 million in Bitcoin after stealing customer data through bribed overseas support agents. Coinbase refused to pay the ransom and instead offered a $20 million bounty for information leading to the attackers' arrest. The compromised data included names, addresses, and ID documents, but no passwords, private keys, or funds were exposed. The attackers threatened to publish the stolen data if Coinbase did not comply. Coinbase is collaborating with law enforcement, has identified the attackers' wallet addresses, and will reimburse affected customers. The company is also enhancing security measures and launching a new U.S.-based support hub. CEO Brian Armstrong emphasized a commitment to prosecuting the criminals.
