$62 Billion Crypto Platform Coinbase Blackmailed (11/5/25) for Money from Cyberattack, Paid Coinbase Contractors & Employees in Support Roles Outside of United States to Obtain Information from Coinbase Systems, Personnel Involved Had Been Terminated, Forecasts $180 Million to $400 Million Loss from Cyberattack, Hackers Claimed to Acquire Some Customers Account Information Including Names, Addresses & Emails But Not Login & Passwords, Coinbase Will Reimburse Customers Tricked into Sending Funds to Hackers, Coinbase Founded in 2012 by Brian Armstrong & Fred Ehrsam, IPO on Nasdaq in 2021
17th May 2025 | Hong Kong
Crypto platform Coinbase ($61 billion market value) had been blackmailed (11/5/25) for money from a cyberattack, with the blackmailers having paid Coinbase contractors & employees in support roles outside of United States to obtain information from Coinbase systems. Coinbase issued a forecast of $180 million to $400 million loss from cyberattack, with hackers claiming to have acquired some of Coinbase customers account information including names, addresses & emails but not login & passwords. Coinbase will reimburse customers tricked into sending funds to hackers. Coinbase was founded in 2012 by Brian Armstrong & Fred Ehrsam, IPO on Nasdaq in 2021. Profile – Founded in June of 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like bitcoin, ethereum, and litecoin. Our vision is to bring more innovation, efficiency, and equality of opportunity to the world by building an open financial system. Our first step on that journey is making digital currency accessible and approachable for everyone. Two principles guide our efforts. First, be the most trusted company in our domain. Second, create user-focused products that are easier and more intuitive to use. More info below:
“ $62 Billion Crypto Platform Coinbase Blackmailed (11/5/25) for Money from Cyberattack, Paid Coinbase Contractors & Employees in Support Roles Outside of United States to Obtain Information from Coinbase Systems, Personnel Involved Had Been Terminated, Forecasts $180 Million to $400 Million Loss from Cyberattack, Hackers Claimed to Acquire Some Customers Account Information Including Names, Addresses & Emails But Not Login & Passwords, Coinbase Will Reimburse Customers Tricked into Sending Funds to Hackers, Coinbase Founded in 2012 by Brian Armstrong & Fred Ehrsam, IPO on Nasdaq in 2021 “
Coinbase – On May 11, 2025, Coinbase, Inc., a subsidiary of Coinbase Global, Inc. (“Coinbase” or the “Company”), received an email communication from an unknown threat actor claiming to have obtained information about certain Coinbase customer accounts, as well as internal Coinbase documentation, including materials relating to customer-service and account-management systems. The communication demanded money in exchange for not publicly disclosing the information. The threat actor appears to have obtained this information by paying multiple contractors or employees working in support roles outside the United States to collect information from internal Coinbase systems to which they had access in order to perform their job responsibilities. These instances of such personnel accessing data without business need were independently detected by the Company’s security monitoring in the previous months. Upon discovery, the Company had immediately terminated the personnel involved and also implemented heightened fraud-monitoring protections and warned customers whose information was potentially accessed in order to prevent misuse of any compromised information. Since receipt of the email, the Company has assessed the email to be credible, and has concluded that these prior instances of improper data access were part of a single campaign (the “Incident”) that succeeded in taking data from internal systems. The Company has not paid the threat actor’s demand and is cooperating with law enforcement in the investigation of this Incident.
The Incident did not involve the compromise of passwords or private keys, and at no time were any of the targeted contractors or employees able to access customer funds. While the Company is still investigating the affected data, it included:
- Name, address, phone, and email;
- Masked Social Security (last 4 digits only);
- Masked bank-account numbers and some bank account identifiers;
- Government‐ID images (e.g., driver’s license, passport);
- Account data (balance snapshots and transaction history); and
- Limited corporate data (including documents, training material, and communications available to support agents).
The Company is continuing to review and bolster its anti-fraud protections to mitigate the risk that the compromised information could be used in social- engineering attempts. To the extent any eligible retail customers previously sent funds to the threat actor as a direct result of this Incident, the Company intends to voluntarily reimburse them after it completes its review to confirm the facts. The Company is also in the process of opening a new support hub in the United States and taking other measures to harden its defenses to prevent this type of incident.
While Coinbase has not experienced material operational impacts from these events as of the date hereof, the full financial impact of the Incident on the Company is still in the process of being assessed. Based on the information available to the Company on the date hereof and based on facts that continue to evolve, the Company has preliminarily estimated expenses to be within the range of approximately $180 million to $400 million relating to remediation costs and voluntary customer reimbursements relating to this Incident, prior to further review of potential losses, indemnification claims, and potential recoveries, which could meaningfully increase or decrease this estimate. The Company plans to aggressively pursue all remedies. As the Company’s investigation is ongoing, the full impact of these events are not yet known.
$62 Billion Crypto Platform Coinbase Forecasts $180 Million to $400 Million Loss from Cyberattack, Hackers Claimed to Acquire Some Customers Account Information Including Names, Addresses & Emails But Not Login & Passwords, Coinbase Will Reimburse Customers Tricked into Sending Funds to Hackers, Coinbase Founded in 2012 by Brian Armstrong & Fred Ehrsam, IPO on Nasdaq in 2021
16th May 2025 – Crypto platform Coinbase ($61 billion market value) issued a forecast of $180 million to $400 million loss from cyberattack, with hackers claiming to have acquired some of Coinbase customers account information including names, addresses & emails but not login & passwords. Coinbase will reimburse customers tricked into sending funds to hackers. Coinbase was founded in 2012 by Brian Armstrong & Fred Ehrsam, IPO on Nasdaq in 2021. Profile – Founded in June of 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like bitcoin, ethereum, and litecoin. Our vision is to bring more innovation, efficiency, and equality of opportunity to the world by building an open financial system. Our first step on that journey is making digital currency accessible and approachable for everyone. Two principles guide our efforts. First, be the most trusted company in our domain. Second, create user-focused products that are easier and more intuitive to use.
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