Coinbase, one of the world's largest cryptocurrency exchanges, is facing an estimated $400 million after a significant
cyberattack. The attackers allegedly compromised
employee data and stole
customer information, demanding a $20 million ransom. The company is now advertising a
$20 million bounty for information about the cybercriminals. With a current investigation being led by the
US DOJ and SEC, Coinbase's stocks have taken a hit, creating a turbulent economic sphere for the company.
Simultaneously, the
SEC has launched a 'Cyber and Emerging Technologies Unit' to combat crypto fraud, potentially posing a new threat to unregulated crypto assets. Certain geopolitical realities, like North Korea hoarding Bitcoin through
cybercrime, further complicate the situation.
Michael Saylor, founder and CEO of MicroStrategy, continues to uphold Bitcoin's value despite the recent events, likening it to 'cyber Manhattan'.
Elsewhere in the crypto industry, other platforms have also been targeted. Phemex, for instance, lost at least $69 million in a suspected attack, whilst thieves absconded with $308M from Crypto Firm DMM Bitcoin. Cyber Insurance statistics predict a significant increase in growth and trends by 2025 due to these incidents.
CYBER Coin News Analytics from Wed, 24 Nov 2021 08:00:00 GMT to Wed, 11 Jun 2025 19:27:15 GMT -
Rating -6
- Innovation 2
- Information 9
- Rumor 1
