Hyderabad, Dec. 27 -- Coinbase Global Inc. co-founder and CEO Brian Armstrong thanked the Hyderabad police for arresting an ex-Coinbase customer service agent who allegedly led a cyberattack on the company in May this year.

In an X post shared on Friday, December 26, Armstrong said, "We have zero tolerance for bad behaviour and will continue to work with law enforcement to bring bad actors to justice. Thanks to the Hyderabad Police in India, an ex-Coinbase customer service agent was just arrested. Another one down and more still to come."

The arrest is linked to one of the most high-profile security breaches involving a crypto-based company this year.

Criminals demanded USD 20 million ransom

Hackers allegedly bribed the employees outs...