India, May 16 -- Coinbase disclosed a major data breach, revealing that cybercriminals bribed overseas customer service agents to access sensitive user information, enabling targeted social engineering attacks. The cryptocurrency exchange estimates the incident could cost up to $400 million to address.
The breach came to light on May 11 after Coinbase received an anonymous email claiming possession of internal documents and customer data. The attacker demanded $20 million in exchange for not releasing the information.
Coinbase has refused to pay the ransom and is cooperating with law enforcement, offering a $20 million reward for information leading to the perpetrators' arrest.
Although no passwords, private keys, or funds were compromis...