DOJ Investigates Coinbase After Significant Security Breach

The US Department of Justice is investigating a security breach at Coinbase, the leading US cryptocurrency exchange. The breach involved criminal actors bribing employees in India for access to sensitive client data.

Key Points

DOJ's criminal division is examining the breach, raising cybersecurity concerns in the crypto sector.
Coinbase confirmed that login credentials and passwords were not compromised.
The company anticipates losses between $180 million and $400 million due to the incident.
Coinbase refused to pay a $20 million ransom and instead established a reward fund for information leading to the attackers' arrest.
At market close on Monday, Coinbase's stock (COIN) was priced at $263.

Coinbase is cooperating with the DOJ and other law enforcement agencies but is not under investigation itself.