Overview

• Coinbase confirmed a cyberattack involving the theft of customer and internal data, including names, addresses, email addresses, and partial SSNs.
• Hackers gained access by bribing contractors outside the U.S. to exploit internal systems; passwords, private keys, and account balances remain secure.
• The company disclosed the breach in an SEC filing, refused to pay the ransom, and is cooperating with law enforcement to investigate the attack.
• Coinbase expects remediation costs of $180–400 million and plans to reimburse customers tricked into transferring funds to the attackers.
• CEO Brian Armstrong announced a $20 million reward for information leading to the capture of those responsible for the attack.