Coinbase coil of the data violation which could cost $ 400 million

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Coinbase coil of the data violation which could cost $ 400 million

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Coinbase is in shock from an internal data violation which could cost up to $ 400 million, just a few days before it was set to reach the S&P 500 index.

The company revealed that external players had welded “entrepreneurs or employees” to access internal systems and sensitive customer data. The attackers then tried to extort $ 20 million from the Stock Exchange, threatening to disclose compromise information.

Coinbase did not pay the ransom and declared that less than 1% of the monthly data of its users were affected by the attack. Coinbase also dismissed the entrepreneurs involved in the violation.

Coinbase said it would reimburse users who have lost funds, a decision that should cost between $ 180 million and $ 400 million, according to a recent Securities and Exchange commission (SEC) deposit.

Coinbase shares (corner) plunged 7% At $ 244.44 Thursday, in the midst of increasing concerns concerning violation and a new SEC survey to find out if the company misleads investors before its IPO in 2021.

Exchange, ready to join the S&P 500 index on May 19, was the crypto brand most imitated by crooks in 2024, according to data of emails.

https://t.co/evpibmfvrw pic.twitter.com/f6updkl5r0

– Brian Armstrong (@brian_armstrong) May 15, 2025

The dry survey on Coinbase for potentially misleading investors before 2021 iPo

Adding to the misfortunes of the exchange crypto was a report from the New York Times that the dry spear An investigation to find out if he had misleaded investors and inflated his number of users before its public debut in 2021.

The exchange of American crypto leader minimized the financial regulator's investigation, qualifying the SEC investigation “a maintenance investigation” of the previous anti-Crypto administration.

The dry has zoned Cornerbase Complaint of “more than 100 million verified users” who appeared in its marketing and IPO documentation in 2021. Coinbase ceased to report this metric in 2022, a deposit With the SEC shows.