India, Dec. 27 -- The CEO of one of the world's largest cryptocurrency firms, Coinbase, thanked the Hyderabad Police in a recent tweet for arresting a former company agent who was allegedly involved in a cyberattack on the company, which occurred earlier this year.

"We have zero tolerance for bad behavior and will continue to work with law enforcement to bring bad actors to justice," Brian Armstrong wrote.

He added, "Thanks to the Hyderabad Police in India, an ex-Coinbase customer service agent was just arrested. Another one down and more still to come."

Coinbase in May said that hackers bribed contractors or employees outside the US to steal sensitive customer data. The company claimed that the hackers also demanded $20 million ransom...