Overview

• Hackers bribed overseas Coinbase support agents, primarily in India, to steal personal data of under 1% of users, including names, addresses, and government IDs.
• Coinbase refused a $20 million ransom demand and instead offered a matching bounty for information leading to the attackers' arrests.
• The U.S. Department of Justice, SEC, and international law enforcement are investigating the breach, with Coinbase confirming its full cooperation.
• At least six lawsuits have been filed, alleging inadequate security measures and mishandling of the breach by the exchange.
• Coinbase estimates remediation costs between $180 million and $400 million and has pledged to reimburse affected users while enhancing security measures.