Coinbase, one of the largest platforms for crypto trading, is hit by a cyber attack. Coinbase’s monthly transacting user (MTU) in which all user information is present has been targeted. The attackers aimed to gather customers’ lists for personal data. The information could later be used for hacking into financial accounts. The exchange has noted that only a few users’ data is leaked. As per sources, Coinbase has over 100M users worldwide.

Simultaneously, Coinbase has confirmed that no passwords, private keys, or funds were exposed to this recent attack. Prime accounts are still untouched, Coinbase clarified. Moreover, attackers demanded a $20M ransom, but Coinbase rejected the demand. Instead, the exchange has announced a reward of $20M for capturing the criminals responsible for this attack. The exchange has revealed this information through its official X account.

Leaked Coinbase Users’ Information

Cyber Criminals have obtained the names, addresses, phone numbers, email addresses, and account numbers. They have also got information about government-ID images, account data, and limited corporate data. Coinbase realized about this security breach, and therefore, it is using its resources to track the criminals.

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Concurrently, Coinbase told its users that there is no need to worry, because attackers should need the information about login credentials, 2FA codes, private keys, ability to access prime accounts, and access to any Coinbase Wallets for transferring the funds from users’ accounts.

Proposed Reward of $20M and Strengthening Security System

Coinbase has received a demand of $20M ransom from attackers, but it has confidently rejected this demand. In addition, the exchange has announced a reward of $20M for the reimbursement of criminals who are involved in this cyber attack. Coinbase has made significant amendments for the security of its users, as well as for its image before the whole world. So, it has apologized to its customers for this inconvenience.

Coinbase is improving its features in Extra customer safeguards, securing support operations, hardening defenses, and staying transparent. These features will protect users from cyber attacks.