Crypto exchange Coinbase faces up to $400m hit from cyber attack
Tom Gerken
Technology reporter
Getty ImagesOne of the world’s biggest cryptocurrency firms, Coinbase, says a recent cyber attack will cost it up to $400m (£301m).
The firm said it was contacted by hackers who claimed to have gained access to customer information, obtained by making payments to Coinbase contractors and employees.
In a blog post, Coinbase said the criminals had gained access to “less than 1%” of its customer data, which they then used to impersonate the firm and trick people into handing over their crypto.
The group then demanded $20m from Coinbase to keep it quiet – but it refused to pay the bribe and instead promised to pay back every person who got scammed.
The disclosure prompted the firm’s share price to fall by 4.1%.
The…
