Overview

• Hackers accessed customer data, including names, addresses, masked SSNs, bank details, and government IDs, by bribing overseas support agents in India.
• Coinbase rejected a $20 million ransom demand and instead set up a $20 million reward fund for information leading to the attackers.
• The U.S. Department of Justice has opened a criminal investigation into the breach, with Coinbase cooperating alongside international law enforcement agencies.
• At least six lawsuits have been filed in New York and California, accusing Coinbase of inadequate security measures and mishandling the incident.
• Coinbase estimates remediation costs between $180 million and $400 million, while assuring users that no login credentials, private keys, or funds were compromised.