Coinbase Discloses Data Breach Impacting Over 69,000 Users

Coinbase, Inc. revealed a December 2024 data breach compromising the personal information of 69,461 users. The breach, which targeted less than 1% of Coinbase's user base, included KYC details but did not affect passwords or user funds. Attackers demanded a $20 million ransom and used cash bribes to gather information through foreign customer support agents. The SEC and DOJ are investigating the incident. Critics like Michael Arrington highlighted the potential risks of compromised data, while Coinbase estimates remediation costs between $180 million and $400 million. Arrington criticized the KYC laws, urging better data protection measures.