Coinbase, one of the largest cryptocurrency exchanges, has become the target of significant cyber attacks, with the potential financial impact of these attacks estimated up to
$400 million. Not only are these cybercrimes causing damage financially, but a
data breach has also occurred, resulting in the exposure of sensitive customer information. Perpetrators of these cybercrimes sought a
$20 million ransom from the company, an extortion attempt which has failed. Responding to these events, Coinbase has now offered a
$20 million bounty to anyone who can provide information that leads to the disbandment of the cybercrime ring behind these attacks. This is following a pattern observed in larger cryptocurrency markets where hacking, theft, and cybercrimes are escalating. Interestingly,
Enlightify Inc has invested
$20 million into a cryptocurrency known as
CYBER, resulting in a surge of 146% within that coin's market. Cryptocurrency platform
CoinDCX suffered a
$44 million loss following a major cyberattack, while development company
Safe is aiming to create a new development firm focusing on tackling issues related to the era of 'Cyber Warfare' within cryptocurrency. The
SEC has formed a new Cyber and Emerging Technologies Unit intended to combat crypto fraud, and
Fireblocks has unveiled Cyber Security Tools to comply with Europe’s DORA Rules. Despite these attacks,
Michael Saylor of
MicroStrategy considers investments in bitcoin as a 'cyber Manhattan', meaning lucrative even at peak prices.
CYBER Coin News Analytics from Wed, 05 Jun 2024 07:00:00 GMT to Thu, 31 Jul 2025 14:31:27 GMT -
Rating 5
- Innovation 3
- Information 7
- Rumor -1
