Crypto Exchange Coinbase Says Hackers Stole Sensitive User Data, Prompting Shares to Drop

NBC News
Coinbase says thieves stole user data and tried to extort $20M

Thieves recently stole Coinbase customers’ personal information and tried to extort it for $20 million, the company announced Thursday. Coinbase, the United States’ largest cryptocurrency exchange, said that instead of paying, it is offering a $20 million bounty for information leading to the arrest of those responsible. In a Wednesday evening filing with the Securities and Exchange Commission, Coinbase said that it received an extortion email on Sunday from criminals who had obtained some users’ names, addresses, contact information, government identification, transaction history and the last four digits of their Social Security numbers. The criminals gained the information by paying overseas contractors and support workers to hand it over, Coinbase said.

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NBC News
Reuters
Coinbase warns of up to $400 million hit from cyber attack

Coinbase (COIN.O) forecast a hit of $180 million to $400 million from a cyber attack that breached account data of a "small subset" of its customers, sending the crypto exchange's shares down nearly 3% on Thursday. The company received an email from an unknown threat actor on May 11, claiming to have information about certain customer accounts as well as internal documents. While some data including names, addresses and emails was stolen, the hackers did not get access to login credentials or passwords, Coinbase said. It will, however, reimburse customers who were tricked into sending funds to the attackers. The disclosure comes days before the company is set to join the benchmark S&P 500 index (.SPX), marking a landmark moment for the crypto industry.

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Reuters
Wall Street Journal
Coinbase Says Cybercriminals Stole Customer Data, Sought Ransom

The cryptocurrency exchange estimated that the incident could cost from $180 million to $400 million, between fixing the underlying issues and reimbursing customers, according to a regulatory filing. The disclosure sent the company’s stock down more than 7% on Thursday morning. The data breach is a setback for the largest U.S. crypto exchange, which has cultivated a reputation for safety and largely avoided the type of attacks and thefts that have crippled many overseas exchanges. The company said it received an email on Sunday from an unknown party who claimed to have obtained information about certain customer accounts, adding that the threat actor appears to have obtained the information by paying multiple contractors or employees working in support roles outside the U.S.

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Wall Street Journal
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Coinbase faces $400 million cyberattack blow ahead of S&P 500 debut
Coinbase forecast a hit of $180 million to $400 million from a cyber attack. The company received an email from an unknown threat actor on May 11. The disclosure comes days before the company is set to join the benchmark S&P 500 index .SPX.
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Coinbase Says Hackers Demanded $20 Million Ransom For Customer Data
Coinbase received an email on May 11 from an “unknown threat actor’ that claimed to have stolen sensitive information. The email demanded $20 million in bitcoin from Coinbase in exchange for not publicly disclosing the customer data. The company said it would not pay the request and had contacted law enforcement.
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Coinbase says customers' personal information stolen in data breach
U.S. government says it will not pay ransom for stolen data. The data includes names, addresses and phone numbers. The information was stolen from a computer system in the U.S., the government says. The company says it is working with the government to fix the problem.
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Largest US crypto exchange says cost of recent cyber-attack could reach $400m
Hackers paid overseas Coinbase employees for account data; company is offering $20m reward for information
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Coinbase says cyberattack cost up to $400 million after bribed overseas employees stole customer data
Coinbase said customer passwords and private keys were protected by its systems, and “at no time were any of the targeted contractors or employees able to access customer funds.”
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Crypto exchange Coinbase faces up to $400m hit from cyber attack
Criminals claim to have stolen $20m worth of the company's stock. The company has refused to pay up, saying it will only pay back the money if it is used for good. It is the latest in a string of high-profile thefts from the company.
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Coinbase puts $20 million bounty on crooks who tried to extort firm over stolen customer data
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Coinbase customer data stolen by hackers, $20 million ransom demanded
Coinbase hacked by cyber thieves demanding a $20 million ransom not to release stolen data. Breach affected fewer than 1% of monthly transacting users, CEO says. No passwords, private keys or funds were exposed, and Prime accounts are untouched. The offending workers have since been fired and will face criminal charges.
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Why Coinbase Stock Plunged Thursday
Coinbase Global shares fell over 7% to close just above $244 Thursday. The company said it was the victim of a cyberattack. International contractors were likely paid to access certain customer and company data, the company said. The SEC is investigating the platform's use of its "verified users" metric.
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Coinbase estimates cyberattack could cost crypto exchange up to $400M
Coinbase Global's shares fell more than 7% on Thursday. The crypto exchange said a cyberattack that breached customer account data could cost the company up to $400 million. The stolen account data included names, addresses, phone numbers, emails and government ID images. Passwords and private keys were not compromised.
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Coinbase Expects up to $400M Hit From Cyberattack
Coinbase says account data including names, addresses and emails were stolen for a "small subset" of its customers. The attackers did not get access to login credentials or passwords, the company says. "We will reimburse customers who were tricked into sending funds to the attacker," it says.
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Coinbase says bribed workers leaked data to hacker seeking $20 million in ransom
Coinbase Global Inc. said hackers bribed contractors or employees outside the US to steal sensitive customer data and demanded a $20 million ransom. The largest US crypto exchange said it won’t pay the ransom and estimated the incident could cost the San Francisco-based firm up to $400 million to remedy.
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