Cryptocurrency platform Coinbase has announced that it has been the victim of a hack. Although the financial impact of $400 million (€357 million) is not the largest in the crypto world, the impact is far-reaching. The incident comes three days after Coinbase was added to the S&P 500 stock index. Malicious actors had accessed customer data since January by bribing employees.
Coinbase manages the lion’s share of the $122 billion in tokens owned by spot Bitcoin ETFs. Therefore, the hack has a symbolic significance greater than the $400 million suggests. Although the company emphasizes that the Coinbase Prime service was unaffected, hackers accessed valuable customer data for months.
