Coinbase Confirms Data Breach of 69,000+ Users After $20M Ransom Demand

Cryptocurrency exchange Coinbase has confirmed a major data breach impacting 69,461 customers, following reports that surfaced last week.

According to the company, hackers gained access to internal systems by bribing support staff. The attackers demanded $20 million in exchange for deleting the stolen data — a demand Coinbase refused.

The breach began on December 26, 2024, and persisted for several months. Hackers obtained customer names, email and mailing addresses, phone numbers, government ID data, account balances, and transaction histories. However, Coinbase emphasized that no passwords or private keys were compromised, and no funds were accessed.

The company has reported the breach to the Maine Attorney General, as required by law. Estimated damages from the attack range between $180 million and $400 million. Coinbase has pledged to strengthen its internal security protocols and launch an internal review of employee conduct.