Coinbase Confirms Data Theft by Criminals, Offers $20 Million Bug Bounty
Coinbase (COIN) reported that cyber criminals bribed and recruited rogue support agents to steal user data. Key points include:
- Reimbursement will be provided to customers who lost funds to the attacker.
- A $20 million bug bounty is offered for information leading to an arrest.
- Criminals accessed government ID images, account balances, and corporate data; two-factor authentication codes and private keys were not compromised.
- Staff involved in the breach were terminated, and criminal charges will be pursued.
- This event follows claims by on-chain investigator ZachXBT of $300 million in losses from social engineering scams involving Coinbase users.