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.
Prime Minister Anthony Albanese confirmed that one of the two men suspected of carrying out Australia’s deadliest mass shooting in more than 30 year...
U.S. President Donald Trump has ordered a "blockade" of all sanctioned oil tankers entering and leaving Venezuela on Tuesday (16 December), in Washing...
Austria’s public broadcaster ORF, which is hosting the next Eurovision Song Contest, has said it will not block Palestinian flags in the audience or...
The Trump administration has expanded its travel restrictions, now affecting a total of 39 countries....
Venezuela has formally accused the United States of “maritime piracy” after a Venezuelan oil shipment was seized in international waters, escalati...
Prime Minister Anthony Albanese confirmed that one of the two men suspected of carrying out Australia’s deadliest mass shooting in more than 30 years would be formally charged on Wednesday (17 December).
U.S. President Donald Trump has ordered a "blockade" of all sanctioned oil tankers entering and leaving Venezuela on Tuesday (16 December), in Washington's latest move to increase pressure on Nicolas Maduro's government, targeting its main source of income.
Austria’s public broadcaster ORF, which is hosting the next Eurovision Song Contest, has said it will not block Palestinian flags in the audience or suppress crowd reactions during Israel’s performance.
The Trump administration has expanded its travel restrictions, now affecting a total of 39 countries.
At least 37 people have been killed in flash floods triggered by torrential rain in Morocco's Atlantic coastal province of Safi, Moroccan authorities said on Monday (15 December).
Fighting along the Thailand–Cambodia border has entered a fifth consecutive day, despite U.S. President Donald Trump claiming he had brokered a ceasefire between the two sides.
Authorities discovered the lifeless bodies of renowned filmmaker Rob Reiner, aged 78, and his wife, Michele Reiner, 68, in their upscale Brentwood home in Los Angeles on Sunday. The police investigation has labeled the incident an apparent homicide.
Schools across Cambodia and Thailand were forced to close on Monday (15 December) as border clashes between the two countries escalated, with the death toll reaching at least 40 and hundreds of thousands of people displaced, according to officials and local media.
U.S. envoy Steve Witkoff and Ukrainian President Volodymyr Zelenskyy held two rounds of high-stakes talks in Berlin, Germany on 14-15 December. Ukraine’s chief negotiator, Rustem Umerov, posted on X that discussions with the U.S. envoy have been "constructive and productive".
Ford Motor Company said on Monday it will take a $19.5 billion writedown and scrap several electric vehicle (EV) models, marking a major retreat from its battery-powered ambitions amid declining EV demand and changes under the Trump administration.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
The U.S. Federal Reserve’s Federal Open Market Committee (FOMC) cut its benchmark interest rate by 25 basis points to a range of 3.50% to 3.75% following its two-day policy meeting, according to an official statement issued on Wednesday, 10 December.
China has carried out a major test of a new “super wireless” rail convoy, a technology that could reshape the future of heavy-haul transport.
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