Coinbase, the third largest cryptocurrency exchange worldwide, was affected by an extortion attempt of $ 20 million after cybercriminals recruited in overseas support agents for leak of user data, the corporate said.
According to a blog post dated May 15, Coinbase, a gaggle of external actors who were bribed and coordinated with a small number of shoppers support employees to access internal systems and to steal limited user account data.
“These insiders have abused their access to customer support systems to steal the account details for a small subset of shoppers,” said Coinbase and added that no passwords, private keys, funds or coinbase prime accounts were affected.
Less than 1% of the monthly transactions of the users of Coinbase were affected by the attack, the corporate said.
Source: Coinbase
After the attackers had stolen the info, they tried to blackmail 20 million US dollars from Coinbase so as to not have revealed the violation. Coinbase rejected demand.
Instead, the corporate announced that it offers a reward of 20 million US dollars for information that results in the arrest and conviction of the individuals answerable for this system.
Fraudsters often camouflage themselves as the perfect known brands to encourage a false feeling of trust of their victims.
In 2024, Coinbase was probably the most embodied cryptocurrency brand.
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