Overview
- CEO Brian Armstrong thanked Hyderabad Police for the arrest and said more arrests may follow.
- Coinbase confirmed the detention and said it continues to work with multiple agencies, including the Brooklyn District Attorney’s Office.
- The May incident involved hackers bribing non‑U.S. support staff to access sensitive customer data, according to Coinbase.
- Coinbase has estimated remediation and related costs could reach up to $400 million.
- Shares fell about 1.2% to $236.79 on Friday, with the stock down roughly 4.6% for the year.