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Story perspectives

Coinbase Data Breach: $20M Ransom Demanded, Users Affected

5/16/2025

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Summary

Story summary

Coinbase experienced a data breach, compromising customer identity documents and account details.
The breach was linked to former contractors who accessed internal systems.
Hackers demanded a $20 million ransom, which Coinbase declined to pay.
Less than 1% of 9.7 million monthly users were affected.
Remediation costs are estimated between $180 million and $400 million.

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Story summary

Coinbase experienced a data breach, compromising customer identity documents and account details.
The breach was linked to former contractors who accessed internal systems.
Hackers demanded a $20 million ransom, which Coinbase declined to pay.
Less than 1% of 9.7 million monthly users were affected.
Remediation costs are estimated between $180 million and $400 million.