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May 15, 2025Crises & controversyFailures & lossesdocumented

Coinbase discloses an insider-assisted data theft

Coinbase reported that criminals bribed overseas support personnel to obtain data used in social-engineering attacks and extortion.

The incident exposed information for a subset of customers but did not compromise passwords, private keys, or Coinbase-controlled customer funds. Coinbase rejected a $20 million demand, planned eligible reimbursements, and initially estimated $180 million to $400 million in related expenses.