Coinbase Breach Affects Over 69,000 Users and Costs $300 Million

Coinbase experienced a breach affecting over 69,000 users, with estimated user losses exceeding $300 million. The attacker publicly mocked crypto investigator ZachXBT via an Ethereum transaction, writing "L bozo" while exchanging over $42.5 million in Bitcoin for Ether.

The attacker linked to a YouTube video featuring NBA legend James Worthy.
An associated wallet address transferred an additional 8,698 ETH (approximately $22.6 million) shortly after the mockery.

Coinbase Breach Details

Attackers gained unauthorized access to Coinbase's internal systems through overseas customer support agents.
A ransom of $20 million was demanded by attackers to prevent selling user data on the dark web.
Coinbase rejected the ransom and initiated a $20 million bounty for credible leads on the attackers.
Coinbase plans to reimburse users for cryptocurrency scams resulting from the stolen data.
Estimated costs for reimbursement and fallout management range from $180 million to $400 million.