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Coinbase expects up to $400 million hit from cyber attack

Economic Times · 3m ago

Medial

Coinbase experienced a cyberattack, impacting a small number of customer accounts, leading to a projected $180-$400 million loss. The hackers accessed some personal data but not login details. Coinbase will reimburse affected customers, refused a $20 million ransom, and established a reward for information on the attackers. The breach, coupled with upcoming inclusion in the S&P 500, highlights ongoing security challenges in the cryptocurrency industry amidst rising digital heists.