Coinbase CEO Brian Armstrong confirmed a data breach on Thursday, attributing it to rogue overseas support agents recruited by cyber criminals. According to Armstrong, the attackers contacted Coinbase claiming to possess the personal data of some users and demanded a $20 million ransom to prevent its release. This incident occurred shortly after Coinbase became the first crypto firm. The company is likely investigating how the attackers managed to recruit the support agents and gain access to sensitive user information. The breach raises significant security concerns about outsourcing customer support and the potential vulnerabilities it creates within cryptocurrency exchanges.
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Coinbase Says Cybercriminals Breached User Data, Demanded $20 Million Ransom
Coinbase CEO Brian Armstrong confirmed a data breach on Thursday, attributing it to rogue overseas support agents recruited by cyber criminals. According to Armstrong, the attackers contacted Coinbase claiming to possess the personal data of some users and demanded a $20 million ransom to prevent its release. This incident occurred shortly after Coinbase became the first crypto firm. The company is likely investigating how the attackers managed to recruit the support agents and gain access to sensitive user information. The breach raises significant security concerns about outsourcing customer support and the potential vulnerabilities it creates within cryptocurrency exchanges.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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