Coinbase, the largest U.S. crypto exchange, was hit by a cyberattack that is estimated to have cost the company approximately
$400 million. This rate is based on the firm's own projections related to the impact of the incident. It appears that there was internal involvement as overseas employees were reported to have been bribed. Shortly after the attack, a demand was made for a
$20 million ransom. Moreover, customer data was stolen and used to further scam the users. An investigation into this massive breach has been initiated by the
U.S. DOJ. After the report of the attack,
Coinbase’s shares (COIN) suffered a drop. Subsequently, the company offered a
$20 million bounty for information leading to the cybercrime ring involved in the attack. This event occurred shortly before Coinbase's
S&P 500 debut, but analysts claim the cyberattack and subsequent SEC investigation are ‘little more than noise'. Other important news includes the formation of a
New SEC Cyber Unit aimed at tackling crypto fraud and cybercrime, and a large-scale cyber heist occurrence where
North Korean hackers were able to cash out hundreds of millions from ByBit. Being related to the cyber sector, coins like
CYBER Coin have been affected by these events.
CYBER Coin News Analytics from Thu, 02 Nov 2023 07:00:00 GMT to Tue, 20 May 2025 06:42:55 GMT -
Rating -5
- Innovation 2
- Information 7
- Rumor -4
