Inside the Coinbase hack: 1% of users hit, $400 mln liability looms
Coinbase, a leading cryptocurrency exchange, recently confirmed a security breach affecting roughly 1% of its customers. Despite the breach, the company assured their users that their funds were secure and that they would compensate affected customers accordingly. Coinbase cited the incident's cause as "rogue overseas support agents," who were alleged to have colluded with cybercriminals to collect user data, which was then used in social engineering attacks against the customers. The data accessed by the criminals included contact details such as customer IDs, emails, and phone numbers, as well as account balances. However, the criminals did not get access to the private keys or the hot and cold wallets of the affected users.