News Summary

Crypto exchange giant Coinbase has confirmed a significant data breach where sensitive customer information was stolen by bribed contractors or employees working outside the United States. The hackers responsible for the breach demanded a $20 million ransom, which Coinbase has not paid. The stolen data includes customer names, contact information, Social Security numbers, account balances, transaction histories, and government-issued identity documents. Coinbase has taken steps to mitigate the breach, including firing the involved staff and warning customers whose information may have been compromised. The company expects to incur costs between $180 million to $400 million for incident remediation and customer reimbursements.