Coinbase refused to pay a $20 million ransom after hackers accessed user data through bribed support agents. The breach could cost up to $400 million and affected around 97,000 users, prompting a strong company response and stock dip.
Coinbase announced Thursday it declined to pay a $20 million ransom after hackers accessed sensitive customer data by bribing overseas support agents. The company said personal details, including names, contact information, masked Social Security and bank details, and transaction history, were compromised for less than 1% of users - up to 97,000 people.
No funds were stolen, but Coinbase expects total costs from the breach - including reimbursements and security upgrades - to range between $180 million and $400 million. The news triggered a 7% drop in its stock.
CEO Brian Armstrong said Coinbase fired the involved contractors, is working with law enforcement, and will pursue criminal charges. He also announced a $20 million reward for information leading to the attackers' arrest.
Coinbase is boosting its U.S.-based support and strengthening defenses. The breach comes just before the company’s inclusion in the S&P 500, a milestone for crypto adoption. Meanwhile, Coinbase confirmed the SEC is investigating past reporting practices related to user metrics - a matter it said had already been disclosed.
The European Commission has warned Meta that it may face daily fines starting 27 June if its modified pay-or-consent advertising model fails to meet EU antitrust requirements under the Digital Markets Act.
Germany’s data protection commissioner has called on Apple and Google to block the Chinese AI app DeepSeek from their platforms over illegal data transfers and privacy concerns.
Azerbaijan’s top general observed major drills in Türkiye and met senior Turkish defence leaders, underscoring the allies’ growing military partnership.
Nike plans to reduce its reliance on China for U.S.-bound products to offset the financial blow from President Donald Trump’s new tariffs, as the sportswear giant posted better-than-expected fourth-quarter results and a milder revenue forecast.
Azerbaijan and China have deepened energy cooperation, with new agreements signed to advance green energy initiatives and improve Azerbaijan’s electricity transmission system in line with its renewable energy targets.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Heatwaves gripping Europe have pushed temperatures above 40°C, fueling wildfires and triggering weather alerts across several countries.
The UK government has eased its travel advice for Israel as the final evacuation flight for British nationals prepares to depart Tel Aviv on Sunday.
President Donald Trump said Friday he believes any potential conflict with North Korea can be resolved, pointing to his strong relationship with leader Kim Jong Un.
The US stock market closed at record highs Friday, with both the S&P 500 and Nasdaq rebounding from late-session losses triggered by trade tensions with Canada.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
The U.S. Embassy in Qatar has advised American citizens to shelter in place amid rising tensions between Israel and Iran, as part of a broader global security alert issued by Washington.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
In a televised address on Saturday night, U.S. President Donald J. Trump announced that American forces, in coordination with Israel, had conducted precision strikes on Iran’s Fordow, Natanz, and Isfahan nuclear sites, aiming to dismantle Tehran’s enrichment capabilities.
The US stock market closed at record highs Friday, with both the S&P 500 and Nasdaq rebounding from late-session losses triggered by trade tensions with Canada.
The European Commission has warned Meta that it may face daily fines starting 27 June if its modified pay-or-consent advertising model fails to meet EU antitrust requirements under the Digital Markets Act.
Nike plans to reduce its reliance on China for U.S.-bound products to offset the financial blow from President Donald Trump’s new tariffs, as the sportswear giant posted better-than-expected fourth-quarter results and a milder revenue forecast.
Nike is stepping back from China-based production for its U.S. market to dodge tariff-related costs, aiming to shift its sourcing strategy by 2026.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Heatwaves gripping Europe have pushed temperatures above 40°C, fueling wildfires and triggering weather alerts across several countries.
The UK government has eased its travel advice for Israel as the final evacuation flight for British nationals prepares to depart Tel Aviv on Sunday.
President Donald Trump said Friday he believes any potential conflict with North Korea can be resolved, pointing to his strong relationship with leader Kim Jong Un.
The US stock market closed at record highs Friday, with both the S&P 500 and Nasdaq rebounding from late-session losses triggered by trade tensions with Canada.
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