The U.S. Department of Justice is investigating a cyberattack on Coinbase in which hackers attempted to extort $20 million by threatening to release stolen customer data. Coinbase confirmed that no customer funds or login systems were compromised and that less than 1% of users were affected.
The company expects the incident could cost between $180 million and $400 million. Despite the breach, analysts remain positive, viewing the stock dip as a potential buying opportunity.
“We have notified and are working with the DOJ and other U.S. and international law enforcement agencies, and we welcome law enforcement’s pursuit of criminal charges against these bad actors,” said Paul Grewal, Coinbase’s Chief Legal Officer.
A source familiar with the matter clarified to Reuters that Coinbase itself is not under investigation — the DOJ is focused solely on the cybercriminals behind the breach.
The attack came to light after Coinbase received an email from an unknown entity on May 11, claiming possession of customer information and internal documents.
According to Coinbase, the attackers accessed certain personal data, including customer names, addresses, and email addresses. However, no login credentials, passwords, or account access were compromised.
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