Coinbase, the leading US cryptocurrency exchange, forecasts potential losses between $180 million and $400 million due to a recent cyber-attack that compromised customer data. The hackers accessed limited information such as names and email addresses but did not breach passwords. Coinbase refused to give in to a $20 million ransom demand and has initiated a $20 million reward for tips on the attackers. The exchange is underlining its commitment to security and plans to reimburse affected customers while enhancing its security protocols.
Coinbase stated the cyber-attack could cost between $180 million and $400 million, excluding the $20 million ransom, which it refused to pay.
The attackers stole customer data such as names and email addresses but did not access login credentials or passwords, according to Coinbase.
Coinbase is offering a $20 million reward for information leading to the attackers, emphasizing its decision to not fund criminal activity.
In the wake of the breach, Coinbase has reinforced its security measures and pledged to reimburse affected customers, underlining the ongoing security challenges in the crypto industry.
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