Unauthorized access to Coinbase customer data reportedly occurred since January.
Breaking: Coinbase Data Breach Exposed by Bribed Support Staff
In a shocking turn of events, it has been uncovered that hackers gained access to sensitive customer data on Coinbase, a renowned cryptocurrency exchange, as early as January 2025. A recent report indicated that this was achieved through bribing foreign-based support staff.
The Inside Story
Cybercriminals targeted Coinbase employees and contractors based outside the United States, associates of the company's business process outsourcing or support operations. These insiders were paid off to provide the attackers with on-demand access to sensitive Coinbase user information.
The stolen data comprises names, birth dates, addresses, masked Social Security numbers, masked bank account numbers, government-issued identity documents, and more. This stolen intel could be used to impersonate either Coinbase or its customers and potentially access other financial accounts.
Mike Dudas, managing partner at web3 firm 6MV and a victim of the attack, commented, "It's a major breach, the amount of personal information shared is staggering."
Coinbase's Response
Coinbase Chief Security Officer Philip Martin acknowledged multiple bribery incidents but disputed the claim that hackers had constant access to user data since January. He explained that once the firm was aware of the information sharing, relevant permissions were revoked. However, he acknowledged that this breach took place over several months, with Coinbase first detecting suspicious activity from the support agents months before the ransom demand in May 2025.
Following the incident, the implicated agents were immediately quarantined and terminated. Coinbase has publicly disclosed the situation, assuring customers that login credentials, private keys, and Prime accounts were not compromised, and no customer wallets were accessed.
The Fallout
The exchange announced that less than 1% of monthly transacting users were affected by the incident. The attackers aimed to build a list of customers to impersonate Coinbase and trick users into handing over their crypto assets.
In response, Coinbase plans to reimburse users who lost money and enhance its internal security systems. The company also revealed intentions to open a new U.S.-based customer support hub.
In addition, Coinbase has launched a $20 million bounty for information leading to the attackers' arrest, traced stolen funds for recovery, and is cooperating with authorities to pursue criminal charges against the involved insiders.
The Coinbase data breach adds to an escalating list of cyberattacks targeting the crypto industry, with a recent report by Immunefi highlighting that crypto projects lost $92.5 million in April 2025 alone across 15 separate attacks.
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- The Coinbase data breach, involving bribed support staff, exposed sensitive information such as names, addresses, and masked bank account numbers, potentially threatening both Coinbase's and its customers' financial accounts, and raising concerns about cybersecurity in the crypto finance sector.
- In response to the breach, Coinbase is not only reimbursing affected users and bolstering its internal security systems, but also planning to open a U.S.-based customer support hub and offering a $20 million bounty for information leading to the attackers' arrest.
- The incident underscores the importance of web3 technology in the blockchain ecosystem, as the stolen data could be used for identity impersonation, emphasizing the need for improved cybersecurity measures in the crypto finance industry.
